MAG Silver (MAG.TO, MAG) shares edged down in pre-market New York trading after the company on Wednesday said first-quarter silver production from its minority-owned Juanicipio mine in Mexico rose to a record and gave 2025 guidance for the site.

The company, which holds a 44% stake in Juanicipio while Fresnillo controls the majority, said the mine produced 4.47-million ounces of silver in the quarter, edging up from 4.45-million ounces in the prior-year period. Gold production rose 2.7% to 10,198 ounces, while lead and zinc output rose 21% and 15% respectively.

"Consistently strong grades and record recovery have laid the foundation for a strong 2025. Looking ahead, we remain focused on optimizing production and advancing our key capital investments including the tailings dam expansion and underground infrastructure development, to sustain and enhance our output," Chief Executive George Paspalas said in a statement.

MAG expects 2025 production from the mine of around 15.7-million ounces, with all-in sustaining costs of around US$7.00 per ounce. It expects to spend between US$22 million and US$28 million expanding the mine this year.

The company's shares were last seen down US$0.07 to US$15.13 pre-market. They closed down $0.57 to $20.85 on Tuesday on the Toronto Stock Exchange.