First Majestic Silver Reports Adj. Profit In Q1 - Quick Facts

(RTTNews) - First Majestic Silver Corp. (AG, FR.TO) reported first quarter adjusted net earnings per share of $0.04 compared to a loss of $0.01, a year ago. Revenues were $86.1 million compared to $86.8 million, a year ago. Revenues were 1% lower year-on-year, primarily due to suspending sales in March in an attempt to maximize future profits due to metals market volatility. Total production was consistent with the first quarter of 2019.

First Majestic Silver Corp. postponed the sale of 292,000 ounces of silver and 700 ounces of gold, worth approximately $5.3 million at the end of first quarter 2020. Currently, the company holds 1,045,342 ounces of silver and 1,459 ounces of gold in inventory.

Cash and cash equivalents at March 31, 2020 was $145.2 million. The company had working capital of $139.8 million and total available liquidity of $204.9 million, including $65.0 million of undrawn revolving credit facility.