Atico Mining Corp's Q2 sales rise 94%
Overview
Atico Mining Q2 sales rise 94% yr/yr to $21.1 mln, driven by strong metal prices
Net income for Q2 reaches $2.7 mln, reversing a loss from the previous year
Copper production drops 42% due to lower ore throughput and grades
Outlook
Atico expects gradual operational improvements to enhance financial results this year
Company plans continued development in higher-grade zones at El Roble
Atico conducting 6,000-meter drill program to extend El Roble mine life
Result Drivers
STRONG METAL PRICES - Increased concentrate sales and strong metal prices contributed to improved financial performance, per CEO Fernando E. Ganoza
LOWER PRODUCTION - Copper production decreased by 42% and gold by 16% due to lower ore throughput and grades
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| $21.10 mln |
|
Q2 Net Income |
| $2.70 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the diversified mining peer group is "buy"
Wall Street's median 12-month price target for Atico Mining Corp is C$0.45, about 72.2% above its August 18 closing price of C$0.13
Press Release: ID:nGNX4FBwPP
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