First Majestic Silver Corp Announces Share Repurchase Program

Overview

Vancouver, British Columbia–(Newsfile Corp. – September 10, 2024) – First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the “Company” or “First Majestic”) announces that the Toronto Stock Exchange (“TSX”) has accepted for filing First Majestic’s Notice of Intention to Make a Normal Course Issuer Bid (the “Share Repurchase Program”) to be transacted through the facilities of the TSX and/or through Canadian alternative trading systems.

Details

Pursuant to the NCIB, First Majestic may, during the 12-month period commencing September 12, 2024, and ending on or before September 11, 2025, purchase up to 10,000,000 of its common shares (“Shares”), being approximately 3.32% of the 301,616,350 issued and outstanding Shares as of September 4, 2024.

This move indicates that the Company believes its shares are currently undervalued and sees an opportunity to increase shareholder value through share repurchases. By reducing the number of outstanding shares, First Majestic can potentially boost earnings per share and stock price.

How Will This Affect Me?

If you are a shareholder of First Majestic Silver Corp, this announcement could be positive news for you. Share repurchases often lead to an increase in stock price as it signals confidence from the company in its own value.

How Will This Affect the World?

While the share repurchase program may not have a direct impact on the world at large, it does reflect the overall confidence in the company’s performance. A strong and stable company like First Majestic can contribute to a healthy economy and financial market.

Conclusion

First Majestic Silver Corp’s decision to initiate a share repurchase program demonstrates its commitment to enhancing shareholder value and confidence in its own performance. This move may benefit both current shareholders and the overall financial market as a whole.