First Majestic's Silver Production Decreases 11% Y/Y in Q3 - TradingView

AI desk brief

First Majestic reported Q3 silver production of 3.4Moz, down 11% y/y, as a labor dispute at San Dimas cut mine output 41% y/y to 859,869oz. Gold production also fell 17% to 29,552oz, partially offset by stronger output at La Encantada, where silver production jumped 68% y/y to 967,067oz on higher grades and throughput.

The print is modestly supportive for silver on the supply side because one of the sector’s visible producers posted lower output and flagged disruption risk, even as peers Endeavour Silver and Fortuna reported stronger/steady production trends. The article also notes First Majestic is still on track for first production at Jerritt Canyon in 2H27.