Canada's New Pacific Metals Q1 net loss widens on higher costs

Overview

• Canada precious metals explorer's fiscal Q1 net loss widened yr/yr

• Company's operating expenses and foreign exchange losses increased from prior year

• Company advanced Carangas project with signed mining contracts and updated economic assessment

Outlook

• Company did not provide specific financial or operational guidance for the upcoming periods

Result Drivers

• OPERATING EXPENSES - Higher operating expenses contributed to the wider net loss in Q1

• FOREIGN EXCHANGE LOSS - Company recorded a foreign exchange loss in Q1, compared with a gain in the prior-year period

• PROJECT EXPENDITURES - Increased capitalized expenditures at Carangas project during the quarter

Company press release:

Key Details

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 diversified mining peer group is "buy"

• Wall Street's median 12-month price target for New Pacific Metals Corp. is C$8.75, about 28.5% above its November 2 closing price of C$6.81

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)