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View Full Version : First Majestic Silver Corp.: Another Record Quarter of Earnings and Cash Flows



Bassplayer
11-09-2010, 02:30 PM
http://finance.yahoo.com/news/First-Majestic-Silver-Corp-iw-2816441648.html?x=0&.v=1

Not much chatter about this on yahoo yet?

this has to help move this forward and with the possibility of being listed here - should do very well...

Atlas Shrugged
05-13-2011, 01:58 PM
Any thoughts on their first quarter results. Will be released Monday. AG lagging right now.

Atlas Shrugged
05-13-2011, 05:21 PM
Does anyone own First Majestic, other than me? Current estimates are for earnings of $.20 for the first quarter ($1.20 for the full year).

Atlas Shrugged
05-14-2011, 09:34 PM
:cool: :eek: :D
rom the MD&A on Sedar: (notice $97M in cash as of May 13th!)

• Generated Revenues of $55.3 million for the first quarter of 2011, an increase of 211% compared to $17.7 million in the first quarter of 2010 and an increase of 38% or $15.2 million compared to the fourth quarter of 2010. Smelting and refining charges and metal deductions decreased to 4% of gross revenue in the first quarter of 2011 compared to 17% of gross revenue in the first quarter of 2010. Average smelting charges for doré in 2011 were $0.37 per equivalent silver ounce whereas for concentrates they were $5.46 per equivalent silver ounce.
• Recognized Mine Operating Earnings of $35.6 million for the first quarter of 2011 compared to $7.2 million in the first quarter of 2010, an increase of 397%. The increase was attributed to an increase in sales volume from 1.3 million ounces of silver equivalent (not including pre-commercial sales) in 2010 to 1.8 million ounces of silver equivalent in the first quarter of 2011, combined with an increase in sales revenue per ounce from $16.73 in the first quarter of 2010 to $32.60 in the first quarter of 2011.
• Earned cash flows from operations of $34.4 million ($0.34 per share) (a non-IFRS measure) for the first quarter of 2011 compared to $6.3 million ($0.07 per share) for the first quarter of 2010, an increase of 446%.
• The Company generated net earnings of $23.9 million for the first quarter of 2011 compared to net earnings of $0.4 million in the first quarter of 2010 and net earnings of $13.7 million in the fourth quarter of 2010.
• The Company generated basic earnings per common share (“EPS”) after current income tax provision (a non-IFRS measure) of $0.29 for the first quarter of 2011. EPS for the first quarter of 2011 after current and deferred income taxes was $0.24, compared to EPS of $0.00 for the first quarter of 2010 and $0.15 for the fourth quarter of 2010.
-3-
• Increased production from 1,619,403 silver equivalent ounces in the first quarter of 2010 to 1,825,366 silver equivalent ounces in 2011, an increase of 13%. Production was comparable with the fourth quarter of 2010 with a 1% increase in silver production but a slight decrease in production of equivalents from lead and gold.
• Total Cash Costs per ounce (a non-IFRS measure) increased by 6% from $7.78 in the fourth quarter of 2010 to $8.26 in the first quarter of 2011, due to increased costs of energy, reagents, labour and a 3% appreciation of the Mexican Peso relative to the US dollar.
• Cash and cash equivalents increased to $85.6 million compared to $41.2 million as at December 31, 2010 and improved working capital to $84.9 million from $46.1 million as at December 31, 2010. The current cash balance as at May 13, 2011 was approximately $97.1 million.

Atlas Shrugged
05-14-2011, 09:35 PM
Also, almost 14% of sales came from their internet store. Wow, just wow. I love my FM rounds!

Larso3
05-14-2011, 10:12 PM
Does anyone own First Majestic, other than me? Current estimates are for earnings of $.20 for the first quarter ($1.20 for the full year).

Sure, I'm a holder. Cheers to AG.

mrgneiss
05-15-2011, 06:26 AM
http://finance.yahoo.com/news/First-Majestic-Silver-Corp-iw-2816441648.html?x=0&.v=1

Not much chatter about this on yahoo yet?

this has to help move this forward and with the possibility of being listed here - should do very well...

Just looking at it briefly I would be inclined to buy this before Hecla or CDE. Of course it is an almost $2 billion company and I think Revett has more upside, but FM would be my pick for a big silver company with leverage to the POS.

fishouttawatta
05-16-2011, 04:38 AM
I hope this translates to the share price! They have been gettin beat down lately. I doubled up friday after they went from $19 to $17.65 in minutes. I knew earnings would knock it out of the park. I just hope it shows up in share price.

Atlas Shrugged
05-16-2011, 09:40 AM
I hope this translates to the share price! They have been gettin beat down lately. I doubled up friday after they went from $19 to $17.65 in minutes. I knew earnings would knock it out of the park. I just hope it shows up in share price.

Agree. Sprott sold off some of his shares in March and April timeframe. If you look at where it started dropping, it appears his fund moved the market. Sometime longs are our own worst enemy.

Still think AG is the best deal and best silver focused miner around; specifically for their managment. (Keith is great!)