- First Majestic Silver (NYSE:AG) +1.2% pre-market after announcing record full-year production and forecasting higher output in 2019.
- AG says FY 2018 total production reached a record 22.2M silver equiv. oz., a 37% Y/Y increase and at the upper end of company guidance of 20.5M-22.6M silver equiv. oz.; total production consisted of 11.7M oz. of silver, 111K oz. of gold, 16.1M lbs. of lead and 5.7M lbs. of zinc.
- AG says silver production was slightly below guidance of 12M-13.2M oz. primarily due to lower than expected silver production at La Encantada.
- Total Q4 production was 6.5M silver equiv. oz., consisting of 3.3M (NYSE:MMM) oz. of silver, nearly 34.5K oz. of gold, 3.3M lbs. of lead and 1.5M lbs. of zinc.
- For 2019, AG forecasts total production of 24.7M-27.5M silver equiv. oz. including 14.2M-15.8M oz. of pure silver; based on the midpoint of the guidance range, AG expects a 28% Y/Y increase in silver production and an 18% Y/Y increase in total production.
- Now read: Top 15 Gold And Silver Mining Producers For 2019
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