First Majestic appoints new board member Daniel Muñiz

VANCOUVER - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV), currently valued at $3.25 billion with a year-to-date return of ~12%, announced today the addition of Daniel Muñiz Quintanilla to its Board of Directors. With over 28 years of experience in international law, mergers and acquisitions, capital markets, and finance, Muñiz’s expertise spans several industries including mining, logistics, and infrastructure. According to InvestingPro analysis, the company maintains a healthy financial position with a "Good" overall health score.

Currently serving on the boards of Novagold Resources, Inc. and Brookfield Infrastructure Partners L.P., Muñiz is also a Founding Partner at Axkan Capital Partners S.L. His roles extend to directorships at Tharsis Mining S.L., and as a director and special advisor to the chairman at Sinda Ltd. and Sunshine Silver Mining & Refining Company, both part of The Electrum Group’s portfolio.

Muñiz’s previous positions include directorships at Gatos Silver, Inc., which was acquired by First Majestic in January 2025, and at HudBay Minerals Inc. His tenure at Grupo Mexico, SAB de C.V. and its subsidiaries, Americas Mining Corp. and Southern Copper Corp., saw him in roles such as Managing Director and Chief Financial Officer. He holds a Master’s Degree in Law from Georgetown University and an MBA from Instituto de Empresa in Madrid, Spain, as well as a Law Degree from the Universidad Iberoamericana in Mexico City.

Chair of the Board, Thomas Fudge, expressed confidence in Muñiz’s ability to contribute to First Majestic’s growth and operations in Mexico, as well as its ambition to become a leading primary silver company globally.

First Majestic is a mining company with a focus on silver and gold production in Mexico and the United States. It operates four mines in Mexico and holds a portfolio of development and exploration assets, including the Jerritt Canyon Gold project in Nevada, U.S.A. The company also runs First Mint, LLC, offering a portion of its silver production for public sale. With annual revenue of $561 million and a strong liquidity position evidenced by a current ratio of 2.56, the company operates with moderate debt levels. InvestingPro analysis reveals 8 additional key insights about the company’s financial health and growth prospects, available to subscribers.

The company’s forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those projected. These statements are based on current expectations and involve assumptions that may not materialize. The company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the press release date. Analysts expect sales growth in the current year, with the next earnings report due on May 1, 2025. For comprehensive analysis and detailed financial metrics, investors can access the full Pro Research Report available on InvestingPro, part of the platform’s coverage of over 1,400 US equities. This article is based on a press release statement.

In other recent news, First Majestic Silver Corp reported its fourth-quarter 2024 earnings, revealing mixed results. The company posted an earnings per share (EPS) of $0.03, which fell short of the anticipated $0.0556. However, revenue surpassed expectations, reaching $172.3 million compared to the forecast of $165.05 million. This strong revenue performance was accompanied by a record cash flow of $68 million for the quarter. The company also highlighted its successful production, achieving 21.7 million ounces of silver equivalent for the year, with significant contributions from its Santa Elena operation.

In terms of strategic moves, First Majestic Silver has been focusing on the integration of its recent acquisition, Gatos Silver. The company aims to enhance its production capabilities and achieve operational synergies through this merger. Analysts from H.C. Wainwright have noted the potential challenges related to the integration process but also recognize the strategic benefits. Additionally, First Majestic Silver continues to pursue its share buyback program, signaling confidence in its financial position.

Looking ahead, First Majestic Silver has projected its silver equivalent production to reach 29 million ounces in 2025, with plans to introduce three new mint products to boost revenue streams. The company is also focused on expanding its treasury to $500 million by the end of the year. These developments reflect First Majestic Silver’s strategic initiatives to strengthen its market position and financial health.

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