First Majestic Silver Q1 2011: Firing on All Cylinders
Smart Money Europe submits:
First Majestic Silver (AG) published excellent figures on the first quarter. Let’s discuss the key points of the most recent earnings release.
First Majestic generated 55.3 million USD of revenues in the first quarter of 2011. This is a rise of 211% compared to the 17.7 million USD reported in the first quarter of 2010. It is 38% higher than in the fourth quarter of 2010. Obviously, First Majestic Silver was helped by a 95% rise of silver, as well as by a 13% rise of production.
First Majestic generated 34.4 million USD of operational cashflow (0.34 USD per share) in the first quarter of 2011, compared to 6.3 million USD (0.07 USD per share) for the first quarter of 2010, which is a huge rise of 407%.
The company also reported net earnings of 23.9 million USD in the first quarter of 2011, compared to net profits of 0.4Complete Story »