First Majestic Silver reports 3.4 million ounces of silver production in Q3

First Majestic Silver Corp. reported a consolidated production of 3.44 million silver-equivalent ounces for the third quarter of 2026. While this represents a 9% decrease in silver output compared to the second quarter, the company saw a significant 68% year-over-year production increase at its La Encantada mine in Coahuila, Mexico.

The growth at La Encantada helped partially offset production losses at the San Dimas mine in Durango, where an ongoing labor dispute caused a 12-day operational stoppage. San Dimas silver production fell 41% compared to the same quarter in 2025 due to lower ore grades and slower ore flow.

Other key production figures include 1.24 million silver ounces from Los Gatos and 368,333 ounces from Santa Elena, the latter of which saw an 11% year-over-year decline. Gold production for the quarter fell 15% from the previous quarter to 29,552 ounces. The company also announced the renewal of its share repurchase program.