First Majestic Silver Stock Forecast

Stock Price Forecast

According to 6 analysts polled by S&P Global, First Majestic Silver stock has a consensus rating of "Buy" and an average price target of $38.50. The average 1-year stock price forecast is 62.52% higher than the current stock price, while the lowest is $35.00 (+47.74%) and the highest is $45.00 (+89.95%).

Price Target: $38.50 (+62.52%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$35.00	$38.50	$37.00	$45.00
Change	+47.74%	+62.52%	+56.18%	+89.95%

Analyst Ratings

The average analyst rating for First Majestic Silver stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Dec '25	Jan '26	Feb '26	Mar '26	Apr '26	May '26
Strong Buy	2	2	2	3	3	3
Buy	2	1	1	1	1	1
Hold	2	3	2	1	1	1
Sell	0	0	1	1	1	1
Strong Sell	0	0	0	0	0	0
Total	6	6	6	6	6	6

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Kevin O'Halloran BMO Capital	BMO Capital	Buy Maintains $35.00	Buy	Maintains	$35.00	+47.74%	May 13, 2026
Eric Winmill Scotiabank	Scotiabank	Hold Maintains $31.76	Hold	Maintains	$31.76	+34.06%	May 13, 2026
Richard Gray ATB Cormark Capital Markets	ATB Cormark Capital Markets	Hold Maintains $36.00	Hold	Maintains	$36.00	+51.96%	May 13, 2026
Heiko Ihle H.C. Wainwright	H.C. Wainwright	Buy Reiterates $41.42 → $42.46	Buy	Reiterates	$41.42 → $42.46	+79.23%	May 12, 2026

Financial Forecast

Revenue This Year

1.67B

from 1.26B

32.74%

from 1.26B

Revenue Next Year

1.94B

from 1.67B

16.29%

from 1.67B

EPS This Year

1.06

from 0.46

130.02%

from 0.46

EPS Next Year

1.11

from 1.06

4.96%

from 1.06

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	584.12M	624.22M	573.80M	560.60M	1.26B	1.67B
Revenue Growth	60.53%	6.87%	-8.08%	-2.30%	124.25%	32.74%
Gross Profit	205.98M	140.60M	141.66M	192.24M	693.37M	417.18M
Gross Margin	35.26%	22.52%	24.69%	34.29%	55.15%	25.00%
Operating Income	46.78M	-51.61M	-138.74M	5.54M	366.82M	892.58M
Net Income	-4.92M	-114.28M	-135.11M	-101.89M	164.92M	480.01M
EPS	-	-	-	-	0.46	1.06
EPS Growth	-	-	-	-	-	130.02%
Forward PE	28.30	28.92	37.81	17.04	21.76	16.07
Dividend / Share	0.02	0.02	0.02	0.02	0.02	0.06
Dividend Growth	-	1.29%	-14.41%	-6.93%	21.28%	166.24%
Free Cash Flow	-9.84M	-159.93M	-84.10M	54.97M	503.16M	648.38M
No. Analysts	-	-	-	-	-	3

EPS and Forward PE are based on non-GAAP adjusted numbers.

Revenue Forecast

Revenue	2026	2027	2028
High	1.8B
Avg	1.7B
Low	1.4B

Revenue Growth

Revenue Growth	2026	2027	2028
High	46.7%
Avg	32.7%
Low	7.5%

EPS Forecast

EPS	2026	2027	2028
High	-
Avg	1.06
Low	-

EPS Growth

EPS Growth	2026	2027	2028
High	-
Avg	130.0%
Low	-