First Majestic Q4 Net Profit Surges 55%
First Majestic Silver Corp (NYSE: AG) reported a 55% rise in its Q4 profit. It also expects a rise in its production this year.
First Majestic's quarterly net income climbed to C$21.3 million ($21.56 million), or 20 Canadian cents a basic share, from C$13.7 million, or 14 Canadian cents a basic share, in the year-earlier period. On an adjusted basis, First Majestic earned 24 Canadian cents a share.
First Majestic's revenue jumped 52% to C$60.8 million.
First Majestic shares closed at $20.28 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.