AG · NYSE · STOCK
First Majestic Silver (AG) Stock Analysis
$17.29
52W $10.19 – $32.04
58/100
$8.52B
24.5
2.11
Is AG Bullish or Bearish?
Bullish.
Innellis AI committee rates First Majestic Silver Corp. (AG) Buy with a composite score of 58/100
, based on 6 analysts with 67% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +17.50 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -2.50 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Value Analyst sees a compelling case — price-to-book of 1.2x is a discount to asset value. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Price-to-book of 1.2x is a discount to asset value — Value
- Revenue growing 98.5% YoY -- genuine top-line momentum — Growth
- Low leverage (debt-to-equity 0.18) -- balance sheet can absorb a shock — Risk
Bear Case
- 2 consecutive earnings misses -- execution concerns — Growth
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- MACD histogram negative -- bearish momentum — Technical
- Bollinger bandwidth of 21.7% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
58/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 46%
of 99 Basic Materials peers
Value Analyst
bullish
70
/ 100 · Moderate confidence
Classic value case: cheap on multiples with earnings power to back it up
+ Price-to-book of 1.2x is a discount to asset value
Growth Analyst
neutral
47
/ 100 · High confidence
Moderate growth -- present but not remarkable
+ Revenue growing 98.5% YoY -- genuine top-line momentum
− 2 consecutive earnings misses -- execution concerns
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
neutral
58
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.18) -- balance sheet can absorb a shock
− Bollinger bandwidth of 21.7% signals elevated volatility
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 57.5 to 57.5.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 1 signal(s) disappeared.
Analyst-level changes:
- Risk Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
38.4
Neutral
MACD Histogram
-0.168
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Mixed
Support
$14.12
Resistance
$22.17
Bollinger %B
0.24
Inside Bands
Price vs Moving Averages
EMA 9
$17.53
Below
EMA 21
$18.24
Below
EMA 50
$18.66
Below
EMA 200
$18.18
Below
Fundamental Analysis
Valuation
80
Growth
48
Profitability
62
Financial Health
100
Cash Flow
70
Valuation
P/E Ratio
24.5×
P/B Ratio
2.90×
PEG Ratio
0.01
Dividend Yield
0.27%
52W High
$32.04
52W Low
$10.19
Quality & Growth
ROE
608.9%
ROA
358.1%
Gross Margin
5257.3%
Operating Margin
4397.1%
Revenue Growth YoY
—
Debt / Equity
0.11
AI Fundamental Assessment
P/E ratio of 24.5 (inexpensive relative to a 15-40x range); Price-to-book of 2.9x; PEG ratio of 0.0 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 6.1%; Return on assets of 3.6%; Net margin of 21.1%; Gross margin of 52.6%; Current ratio of 2.57 (healthy short-term liquidity); Debt-to-equity of 0.11; Free cash flow per share is positive (1.40); Most recent quarter missed estimates by 31.3%; 2 consecutive earnings misses; EPS growth decelerating (+3.3% -> -32.3% QoQ); Analyst estimates rising over recent quarters
Get the Full AG Analysis
Interactive charts · Live committee votes · Trade plan · Paper trading · AI Q&A
Open in Terminal →