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Follow the Money with Silver Miners ; Recent Performance Shows Silver is on a Winning Streak
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - May 28, 2020) -  ...
About this update from First Majestic Silver Corp.
[{"type":"text","content":"Follow the Money with Silver Miners ; Recent Performance Shows Silver is on a Winning Streak\"As we go green, we need more silver\" - First Majestic Silver Corp.Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - May 28, 2020) -  Investor Ideas, a global investor news source covering mining and metals stocks releases a sector snapshot on silver stocks featuring First Majestic Silver Corp. (NYSE: AG) (TSX: FR). Read the full article looking at recent earnings and news from silver stocks :https://www.investorideas.com/news/2020/mining/05280SilverMiners.aspOn May 15th Motley Fool reported :\"Silver stocks have been making headlines with some significant single day runs in the double digits. \"But this is not a one day wonder when you look at some of the recent trends and performances. Looking at the why, some key points noted by First Majestic Silver Corp. (NYSE: AG) (TSX: FR) in their most recent investor presentation; \"Over the past 10 years, the silver industry has been in a 500M ounce physical deficit, and the current silver to gold mine supply ratio is 8:1.\" Another key trend driving silver that fits into the growing ESG investing movement; First Majestic Silver notes that, \"As we go green we need more silver.\" On May 14th First Majestic Silver Corp. (NYSE: AG) (TSX: FR) announced their unaudited interim consolidated financial results of the Company for the first quarter ended March 31, 2020. Key highlights included: Revenues generated in the first quarter totaled $86.1 million compared to $86.8 million in the first quarter of 2019. Due to the volatile decline in silver and gold prices near the end of the quarter, the Company decided to withhold pricing on approximately 292,000 ounces of shipped silver and 700 ounces of shipped gold and retained those ounces in its finished goods inventory. Had these ounces been sold at the end of the quarter, it would have contributed an additional $5.3 million to revenues based on spot metal prices.The Company reported mine operating earnings of $21.1 million compared to $10.3 million in the first quarter of 2019. The increase in mine operating earnings in the quarter was attributed to a 10% increase in average realized silver price and lower cost of sales and depletion, depreciation and amortization due to the temporary suspension of lower margin mines.From the...