Analysts at Scotiabank GBM have revised their financial outlook for First Majestic Silver Corp. (NYSE: AG), lowering their price target on the stock. The adjustment follows the mining company's release of its fourth-quarter and full-year 2025 financial results.
In a research note dated April 14, 2026, Scotiabank analysts reduced their 12-month target price for First Majestic Silver to US$11.00 per share, down from a previous target of US$12.50. The bank maintained a 'Sector Perform' rating on the stock.
The revised estimates reflect the company's reported operational and financial performance for the final quarter of 2025. First Majestic's Q4 results, released in late March 2026, showed revenues that fell short of some analyst expectations, influenced by factors including production levels and realized silver prices.
Scotiabank's updated model incorporates these latest figures, leading to reduced earnings estimates for the coming periods. The analysts' report cites the need for the company to demonstrate consistent operational execution and cost control to meet future guidance.
