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

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:

Key Details

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

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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.)