6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 31, 2021

Commission File Number 001-34984

FIRST MAJESTIC SILVER CORP.

(Translation of registrant's name into English)

925 West Georgia Street, Suite 1800, Vancouver BC V6C 3L2

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

[ ] Form 20-F   [x] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

DOCUMENTS INCORPORATED BY REFERENCE

Exhibit 99.1 to this Report on Form 6-K is hereby incorporated by reference as Exhibits to the Registration Statement on Form F-10 of First Majestic Silver Corp. (File No. 333-255798).

SUBMITTED HEREWITH

Exhibits

99.1 Material Change Report dated May 31, 2021

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FIRST MAJESTIC SILVER CORP.

By:

/s/ Connie Lillico

Connie Lillico

Corporate Secretary

May 31, 2021

EX-99.1

Form 51-102F3

MATERIAL CHANGE REPORT

1.Name and Address of Company

First Majestic Silver Corp. (“First Majestic”)

1800 - 925 West Georgia Street

Vancouer, British Columbia V6C 3L2

2.Date of Material Change

May 28, 2021

3.News Release

A press release was disseminated through GlobeNewswire on May 28, 2021 and subsequently filed on SEDAR.

4.Summary of Material Change

First Majestic has announced the entering into of an equity distribution agreement (the “SalesAgreement”) dated May 28, 2021 with BMO Capital Markets Corp. and TD Securities (USA) LLC (the “Agents”) pursuant to which First Majestic may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through the Agents, such number of common shares of First Majestic as would result in aggregate gross proceeds to the Company of up to US$100.0 million.

5.Full Description of Material Change

First Majestic has announced the entering into of the Sales Agreement with the Agents pursuant to which First Majestic may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through the Agents, such number of common shares of First Majestic as would result in aggregate gross proceeds to First Majestic of up to US$100.0 million (the “Offering”). Sales of common shares will be made through “at-the-market distributions” as defined in the Canadian Securities Administrators’ National Instrument 44-102-Shelf Distributions, including sales made directly on the New York Stock Exchange (the “NYSE”), or any other recognized marketplace upon which the common shares are listed or quoted or where the common shares are traded in the United States. The sales, if any, of common shares made under the Sales Agreement will be made by means of ordinary brokers’ transactions on the NYSE at market prices, or as otherwise agreed upon by the Company and the Agents. No offers or sales of common shares will be made in Canada on the Toronto Stock Exchange or other trading markets in Canada.

The Offering will be made by way of a prospectus supplement dated May 28, 2021 to the base prospectus included in the Company’s existing US registration statement on Form F-10 (the “RegistrationStatement”) and Canadian short form base shelf prospectus (the “BaseShelfProspectus”) dated May 18, 2021. The prospectus supplement relating to the Offering has been filed with the securities commissions in each of the provinces of Canada (other than Québec) and the United States Securities and Exchange Commission (the “SEC”). The US prospectus supplement (together with the related Registration Statement) is available on the SEC's website (www.sec.gov) and the Canadian prospectus supplement (together with the related Base Shelf Prospectus) are available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com.

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6.Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

7.Omitted Information

Not applicable.

8.Executive Officer

For further information, please contact:

Keith Neumeyer, President & Chief Executive Officer

Telephone: (604) 688-3033

Facsimile: (604) 639-8873

9. Date of Report.

May 31, 2021

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