Canada's Silvercorp Q1 revenue up 13%
Overview
Silvercorp fiscal Q1 revenue rises 13% yr/yr to C$81.3 mln
Adjusted net income for fiscal Q1 up 2% to C$21.0 mln
Fatality at Ying Mining District may impact future production
Outlook
Silvercorp expects a 20-25% production shortfall due to mine closures in the current quarter
Result Drivers
HIGHER METAL PRICES - Revenue increase driven by 12% rise in silver prices and 45% rise in gold prices
PRODUCTION COSTS - Increased ore processing led to higher production costs, impacting income from mine operations
DERIVATIVE CHARGES - Net income affected by C$4.8 mln charge on derivative liabilities
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| C$81.33 mln |
|
Q1 Adjusted EPS |
| C$0.1 |
|
Q1 EPS |
| C$0.08 |
|
Q1 Adjusted Net Income |
| C$21.05 mln |
|
Q1 Net Income |
| C$18.13 mln |
|
Q1 Basic EPS |
| C$0.08 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "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$7.50, about 14.8% above its August 6 closing price of C$6.39
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nCNWzSRFHa
