Video News/BMO Capital Markets 2026

First Majestic Silver (NYSE: AG; TSX: AG) generated $250 million in free cash flow in Q4 and holds about $1 billion in cash as it ramps spending on exploration, development and plant expansions in a stronger silver price environment. Speaking with Kitco Mining at the 35th BMO Global Metals, Mining & Critical Minerals Conference in Florida, CEO Keith Neumeyer said silver’s move above $100 per ounce into late 2025 and early 2026 highlighted tightening market fundamentals, even after a pullback into the $80–$85 range. Neumeyer said the company produced 33 million ounces on an equivalent basis in 2025 and is targeting 50 million ounces longer term through internal growth and exploration, with about $50 million budgeted for exploration and roughly $80 million for development this year. “We’re the pure silver company in the space of companies our size,” he said, adding that consolidation could accelerate over the next five years as larger producers absorb smaller players.