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First Majestic Announces Financial Results for Q4 2021, FY2021 & Quarterly Dividend Payment; Appoints New CFO
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2022) - FIRST MAJESTIC SILVER CORP. ...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"First Majestic Announces Financial Results for Q4 2021, FY2021 & Quarterly Dividend Payment; Appoints New CFOVancouver, British Columbia--(Newsfile Corp. - March 10, 2022) - FIRST MAJESTIC SILVER CORP. (TSX: FR) (NYSE: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") is pleased to announce the consolidated financial results for the Company's fourth quarter and year ended December 31, 2021. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.Q4 2021 HIGHLIGHTSQuarterly revenues reached a new Company record of $204.9 million, representing a 64% increase compared to Q3 2021.Recorded free cash flow of $66.4 million primarily due to the sale of 1.4 million ounces of silver held in inventory, higher gold production at Santa Elena due to the introduction of Ermitaño ore to the Santa Elena processing plant in November and record quarterly production at San Dimas.Increased mine operating earnings to $40.4 million, compared to $3.5 million in Q3 2021. Increased operating cash flows before working capital and taxes to $71.8 million, compared to $22.6 million in Q3 2021.Net earnings of ($4.0) million, or EPS of ($0.02). Adjusted net earnings of $4.1 million, or $0.02 per share, after excluding non-cash or unusual items.Cash costs of $12.32 per payable silver equivalent ounce, representing a 13% decrease compared to Q3 2021.All-in sustaining costs (\"AISC\") of $17.26 per payable silver equivalent once, representing a 13% decrease compared to Q3 2021. Realized an average silver price of $24.18 per payable silver equivalent ounce, representing a 5% increase compared to Q3 2021. Ended the quarter with cash and cash equivalents of $237.9 million.2021 HIGHLIGHTS Generated record annual revenues of $584.1 million, representing a 61% increase from 2020, primarily due to the acquisition of the Jerritt Canyon Gold Mine on April 30, 2021 and a 19% increase in the realized average silver price.Mine operating earnings of $101.4 million representing a 3% decrease from the previous year due to higher costs at Jerritt Canyon, ramp-up costs at Santa Elena's Ermitaño mine as well as a stronger Mexican Peso against the US Dollar. Operati...