First Majestic offers high-beta silver exposure with operations concentrated in Mexico and now Nevada following the Gatos Silver acquisition. Gatos integration adds high-grade Cerro Los Gatos production with attractive cost profile. Mexican mining law uncertainty continues to weigh on multiple but operational impact has been manageable so far. Production growth pipeline through Ermitano and Santa Elena expansions.
Thesis reviewed May 29, 2026
First Majestic Silver Corp. is headquartered in Canada, which is currently showing moderate signals.
π¨π¦Canada48NEUTRALView Canada risk detail ββMining7WATCH| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| VALE | Vale S.A. | 50 | -8% | β0% | AVOID |
| AEM | Agnico Eagle Mines Limited | 50 | +18% | β0% | EARLY |
| AG | First Majestic Silver Corp. | 50 | +13% | β0% | EARLY |
| TECK | Teck Resources Limited | 50 | +19% | β0% | EARLY |
| FM | First Quantum Minerals Ltd. | 50 | -7% | β0% | AVOID |
| IVN | Ivanhoe Mines Ltd. | 50 | +17% | β0% | EARLY |
| GOLD | Barrick Gold Corporation | 50 | +11% | β0% | EARLY |
Investors who hold AG may also have indirect exposure through these country funds.
Gatos Silver acquisition closed, immediately accretive
Mexico mining law amendments delayed in Congress
Estimates Β· Yahoo Finance Β· Not audited figures