First Majestic Silver reports 1st-quarter loss of $7.4 million | iNFOnews | Thompson-Okanagan's News Source

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First Majestic Silver reports 1st-quarter loss of $7.4 million

May 10, 2016 - 1:38 PM

VANCOUVER, British Columbia (AP) _ First Majestic Silver Corp. (AG) on Tuesday reported a loss of $7.4 million in its first quarter.

On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 5 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 3 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The silver miner posted revenue of $66.5 million in the period.

First Majestic shares have more than tripled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.88, a rise of 97 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AG at http://www.zacks.com/ap/AG

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Keywords: First Majestic Silver, Earnings Report

News from © The Associated Press, 2016
The Associated Press

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