Financial PerformanceFirst Majestic reported Q4 adjusted earnings of -$0.03/sh, slightly below estimates and consensus, coupled with a -$8.3M adjusted loss due to higher expenses including depreciation, FX and mine holding costs.
Guidance And Estimates2024 guidance of 21.1-23.5Moz AgEq is weaker than the expected 26.0Moz, with cost guidance for 2024 announced at $19.32-20.68/oz AgEq, indicating higher anticipated expenses per ounce.
Production ChallengesFirst Majestic announced a decrease in silver equivalent ounces production, which includes a significant decline in both silver and gold output compared to previous periods.