New York, Feb 23, 2026, 08:44 EST — Premarket
- AG tacked on roughly 1% ahead of the open, following Friday’s strong surge.
- Silver gains, boosted by safe-haven bids as tariff uncertainty lingers
- Traders are again eyeing the company’s Feb. 27 dividend record date.
First Majestic Silver Corp (AG) inched up roughly 1% to $27.82 in premarket action Monday. Shares finished Friday’s session at $27.55, having climbed 11.2% during the day.
This month, silver miners have swung sharply—essentially behaving as high-beta plays on the metal itself—reacting fast to even minimal moves in rates or shifts in risk appetite. Once mills are in motion, a jolt in bullion prices can drive revenue changes that outpace any adjustment on the cost side.
Spot silver climbed to its highest level in over two weeks, boosted as the dollar slipped after the U.S. Supreme Court struck down former President Donald Trump’s broad tariffs. The ruling also appeared to drive some safe-haven demand. “Concerns or confusion … over the outlook for tariffs” played a role, said independent analyst Ross Norman. Reuters
Other names were up in early trading too. Pan American Silver (PAAS) gained roughly 0.9%, Hecla Mining (HL) advanced 2%, and Coeur Mining (CDE) picked up around 1.1%.
First Majestic shares shot higher late last week after the company reported fourth-quarter revenue of $463.9 million and adjusted earnings of 30 cents per share. Silver output hit a record, coming in at roughly 4.2 million ounces for the quarter. The miner’s all-in sustaining cost clocked in at $23.48 per silver-equivalent ounce. Directors approved a quarterly dividend of $0.0083 per share for investors on record as of Feb. 27.
H.C. Wainwright analyst Heiko F. Ihle bumped his price target up to $30 from the previous $24.50, keeping a “buy” rating, GuruFocus reported in a summary of his note. GuruFocus
First Majestic runs mines across Mexico and the U.S.—San Dimas, Santa Elena, La Encantada among them. It also holds a 70% interest in the Cerro Los Gatos joint venture, according to LSEG data cited on Reuters.
Leverage cuts both ways here. Silver dropping, the dollar bouncing back, or even higher costs when prices are already up—any of those can knock miners fast. Margins usually take the first punch when something goes wrong at a specific company.
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