Cara Community GSM: First Majestic Silver 11-2020 update

First Majestic Silver Corp. (TSX: FR.TO) (NYSE: AG) reviewed 11-10-2020

All figures USD

Market Cap:  $2.4 Billion                               Share Price:  $9.55

Shares outstanding: 221,134,187

Cash on hand: $232 Mil as at 30 Sep 2020              Credit facility: $65 Mil

Long-term Debt: $140.5 Mil as at 30 Sep 2020

Current operations: Yes

Insiders: 11%                      Institutions: 237 hold 32-36% of float

Website: firstmajestic.com
Investor Presentation: https://www.firstmajestic.com/_resources/presentation/First-Majestic-Booklet-November-2020.pdf

Q3 highlights:

Production in the quarter of 5.2 Million silver equivalent ounces; breakdown was 3.2 million ounces of silver and 25,771 oz gold

All mines returned to production in Q3 after Mexico restricted operations due to COVID in Q2

AISC dropped to $9.94 in the quarter after a rise to $18.57 due to Q2 operational difficulties

Cash and cash equivalents improved to $232 Million from $95 Mil at end of Q2

Cash from operations $55 Million versus $40.3 Million in Q3 2019

Non-GAAP EPS of $0.12 per share

Revenue $125.9 Million

Mine production:

  • San Dimas – 1,678,075 oz silver & 18,268 oz gold
  • La Encantada – 978,416 oz silver
  • Santa Elena – 502,375 oz silver & 7,428 oz gold

Bottom line:

  • I hold a position of 8.9% portfolio weighting. Volatile stock, but despite recent pressure on precious metal prices, I anticipate higher prices for the next 18-24 months


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