First Majestic Silver Corp (NYSE: AG)

First Majestic Silver Corp is a mining company focused on the production, development, exploration, and acquisition of mineral properties, with a primary emphasis on silver and gold. The company operates primarily in Mexico and the United States, with a portfolio that includes producing mines, development projects, and exploration properties. First Majestic Silver Corp's business is centered around the extraction and processing of precious metals, leveraging its expertise in mining and metallurgy to generate revenue.

The company generates revenue through the sale of silver and gold produced from its mining operations. Its primary products include silver and gold bullion, which are sold to a diverse customer base that includes investors, bullion dealers, and industrial users. First Majestic Silver Corp also operates a minting facility called First Mint, which produces investment-grade fine silver bullion, further diversifying its revenue streams. In 2025, bullion product sales from First Mint accounted for approximately 7% of the company's total silver production.

• San Dimas Silver/Gold Mine: This wholly-owned mine is located in Durango State, Mexico, and is a significant contributor to the company's silver and gold production. The mine focuses on the extraction of these precious metals from the mineral properties in the region.

• Santa Elena Silver/Gold Mine: Situated in Sonora State, Mexico, this wholly-owned mine is another key asset in First Majestic Silver Corp's portfolio. It produces both silver and gold, catering to the global market for these precious metals.

• Los Gatos Silver Mine: Located in Chihuahua, Mexico, this mine is a 70% joint venture interest held through a joint venture with Dowa Metal & Mining Co., Ltd. It is a significant source of silver production for the company.

• La Encantada Silver Mine: This wholly-owned mine is situated in Coahuila State, Mexico, and contributes to the company's silver production.

• Jerritt Canyon Gold Mine: Located in Elko County, Nevada, USA, this mine was temporarily suspended in 2023 to focus on exploration and optimization of mineral resources.

• First Mint: This 100%-owned and operated minting facility in Las Vegas, Nevada, produces investment-grade fine silver bullion. It allows the company to sell a greater portion of its silver production directly to shareholders and bullion customers.

First Majestic Silver Corp operates in a competitive industry, with key competitors including other mining companies focused on silver and gold production. The company's competitive advantages include its strategic portfolio of producing mines and development projects, its expertise in mining and metallurgy, and its vertically integrated operations through First Mint. These advantages enable the company to maintain a strong position in the precious metals market.

The company's customer base is diverse and includes investors, bullion dealers, and industrial users who purchase silver and gold for various purposes. First Majestic Silver Corp's products cater to both the investment and industrial sectors, ensuring a broad market reach. The company's vertically integrated operations through First Mint also allow it to sell a significant portion of its silver production directly to shareholders and bullion customers, further strengthening its market position.