Canada's Silvercorp Q2 revenue falls 13% on lower production

Silvercorp Metals

Mon 23:11

Overview
Canada mining company's Q2 revenue fell 13% yr/yr due to lower production
Production declines linked to safety improvement works at Ying Mining District
GC Mine remains suspended pending regulatory approval, expected to have minimal impact

Outlook
GC Mine expected to resume production by November 2027, pending regulatory approvals
Company does not expect GC Mine suspension to materially impact overall operations or financial performance

Result Drivers
LOWER PRODUCTION - Co said Q2 output of silver, gold, lead and zinc fell 34-51% yr/yr due to safety improvement works at Ying Mining District
HIGHER METAL PRICES - Co said higher realized prices for silver (up 82% yr/yr) and gold (up 32% yr/yr) partially offset lower production

Company press release: ID:nCNW5HLjJa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$72.10 mln
$57.50 mln (1 Analyst)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-gold precious metals & minerals peer group is "buy"
Wall Street's median 12-month price target for Silvercorp Metals Inc is C$21.00, about 52.4% above its October 19 closing price of C$13.78
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
Oct 19 - Cleveland-Cliffs Q3 adj EPS beats on improved pricing, sales volumes

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)