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
