Stock fact sheet · data as of
First Majestic Silver Corp. (AG): fair value, margin of safety and Wheel Score
Ticker symbol AG · Basic Materials · Silver · Canada · Growth
Is AG undervalued?
At 15.39 (close of 5 Nov 2026), AG trades 28% under the GLS average fair value of 21.45. 3 of the 8 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS scan; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
The 8 models disagree widely: DDM gives 0.6739 while Payback Time gives 55.37. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, AG is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 40, growth score 91, out of 100).
Nine valuation models for AG
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 9.68 | -37% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 11.26 | -27% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 2.79 | -82% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 42.72 | +178% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 41.33 | +169% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 55.37 | +260% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 0.6739 | -96% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 7.75 | -50% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -0.6665 | -104% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 24.00 | +56% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - AG passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 2.4 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are moderate - ROIC 5.5%, ROE 6.1%, ROA 3.6% - with debt at 0.11 times equity and a free-cash-flow yield of 9.2%.
The dividend yield is 0.30% with a payout ratio of 5% - a small yield that leaves most of the earnings in the business.
Institutional ownership scores 6/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 5.5% |
|---|---|---|---|
| GLS Moat | 2.4 / 10 | ROE | 6.1% |
| Debt / equity | 0.11 | ROA | 3.6% |
| Free-cash-flow yield | 9.2% | Payout ratio | 5% |
| Institutions | 6 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 76: Good
AG scores 76 out of 100 on the Wheel Score (Good band, 70-84): it passes all 9 Wheel Trade Filters. How it ranks: value strong, premium strong, moat weak, health good, red flags weak, option trading strong, stability weak; Red Flags (weak) holds it back.
Implied volatility is 59% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. The option chain is deep: 267,433 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 14.1M shares a day on a market cap of $7.6B, with a beta of 2.11 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that weak.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 28% below fair value | |
| Premium | Strong | implied volatility 59% | |
| Moat | Weak | moat 2.4/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Weak | Red Flags score 60/100 | |
| Option trading | Strong | 30,459 contracts a day, 267,433 open interest | |
| Stability | Weak | beta 2.11, $7.6B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
First Majestic Silver Corp. reports earnings on 5 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Silver
The 12 companies below are the closest to First Majestic Silver Corp. by market cap within the Silver industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AYA Aya Gold & Silver Inc. | 25.64 | 18.67 | -37% | 33Weak | $3.7B |
| EXK Endeavour Silver Corp. | 7.83 | 2.53 | -210% | 31Weak | $2.3B |
| SVM Silvercorp Metals Inc. | 8.64 | 4.88 | -77% | 34Weak | $1.9B |
| NEWP New Pacific Metals Corp. | 5.54 | 0.1517 | -3552% | 19Weak | $1.0B |
| BHLL Bunker Hill Mining Corp. | 2.06 | 6.06 | +66% | 23No options | $97M |
| SPXC SPX Technologies, Inc. | 153.47 | 145.69 | -5% | 34Weak | $7.7B |
| BLDR Builders FirstSource, Inc. | 69.50 | 31.29 | -122% | 35Weak | $7.5B |
| EMN Eastman Chemical Company | 67.61 | 72.53 | +7% | 41Weak | $7.7B |
| AWI Armstrong World Industries, Inc. | 175.95 | 158.48 | -11% | 29Weak | $7.4B |
| CLF Cleveland-Cliffs Inc. | 12.84 | 22.31 | +42% | 50Fair | $7.3B |
| BVN Compañía de Minas Buenaventura S.A.A. | 28.80 | 84.55 | +66% | 82Good | $7.3B |
| CMC Commercial Metals Company | 66.46 | 59.09 | -12% | 37Weak | $7.3B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about AG
Is AG undervalued right now?
By the GLS models, moderately: at 15.39 the stock trades 28% below the average fair value of 21.45 (data as of 5 Nov 2026).
What is the Wheel Score of AG and what does it mean?
AG scores 76 out of 100 (Good). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for AG?
21.45 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does First Majestic Silver Corp. report earnings next?
The next earnings report is due on 5 Nov 2026 (before the open), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does AG have listed options, and how liquid are they?
Yes. The nightly snapshot found 272 listed contracts with 267,433 open interest across all expiries and implied volatility of 59% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.