AG Stock -10% After Earnings
The Vancouver-based First $First Majestic Silver(AG.US$ announced Q4 mining and production results from mines in Mexico. According to the firm's press release, total production in the fourth quarter of 2023 reached 6.6 million silver equivalents ("AgEq") ounces, consisting of 2.6 million silver ounces and 46,585 gold ounces.
The firm's stock fell 10% after initially climbing 5% on the news.
According to the release, production increased by 6% Q/Q: Total production reached 6.6 million AgEq ounces in Q4, representing a 6% increase when compared to 6.3 million AgEq ounces produced in the previous quarter. Production growth came from record output from the Santa Elena mine-- up 13% Q/Q: Santa Elena achieved a new quarterly production record in Q4..
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