The Vancouver-based miner now expects to extract between 14.6 million and 15.5 million ounces of silver this year, marking a 10% increase at the midpoint compared to its previous guidance. Gold output expectations also received a lift, climbing 7% to a new range of 128,000 to 135,000 ounces. This upward revision follows a solid second quarter, where the company saw silver production rise 3% year-over-year to 3.8 million ounces, while gold production ticked up 2% to 34,660 ounces. Management attributed these results to successful efforts in expanding throughput capacity, which provided the momentum necessary to raise targets for the remainder of the year.
First Majestic Silver Climbs on Upgraded Annual Production Targets
Investors pushed First Majestic Silver shares up 8.5% to 24.28 Canadian dollars Thursday morning, reacting to a sharp hike in the miner’s annual production outlook. The company cited consistent operational gains and improved throughput capacity across its mine sites as the primary drivers behind the rosier forecast.
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