Silvercrest Metals ( (SILV) ) has released its Q3 earnings. Here is a breakdown of the information Silvercrest Metals presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
SilverCrest Metals Inc., a Canadian precious metals producer, focuses on its Las Chispas Operation in Sonora, Mexico, and aims to expand its asset base in the Americas.
In its third quarter of 2024, SilverCrest Metals reported a record performance with notable increases in revenue, mine operating earnings, and cash flow, driven by favorable metal prices and efficient operations. The company’s treasury assets saw a significant growth of 29% to $158.2 million, underscoring its robust financial health.
Key highlights of the quarter included record revenue of $80.4 million, a 23% increase in mining rates, and a 49% rise in free cash flow per share to $0.24. Operating cash flow reached $44.2 million, while all-in sustaining costs decreased to $13.72 per ounce of silver equivalent, showcasing operational efficiency. The company’s strategic use of two contractors improved mining rates and operational flexibility.
Looking forward, SilverCrest management remains confident in achieving or surpassing its 2024 annual guidance, supported by continued strong operational performance and strategic asset management. The company is also exploring expansion opportunities and integrating renewable energy solutions into its operations.
