Silvercorp Metals Inc. Earnings Recaps
Q1 2027
Aug 13, 2026
Shares declined 0.9% as investors weighed a temporary production slowdown due to safety-related mine upgrades in China and margin pressure despite strong revenue growth, signaling caution around near-term operational headwinds.
Key takeaways
- Revenue surged 70% year-over-year to $139 million, driven primarily by a 135% increase in realized silver prices averaging above $69/oz.
- Production fell for key metals: silver down 17%, lead and zinc down 15%, reflecting lower head grades and higher dilution from a shift to shrinkage mining.
- Cash costs per ounce of silver nearly doubled to $2.45, and all-in sustaining costs increased 30% to $13.94/oz, impacted by a stronger RMB and higher government taxes linked to elevated revenue.
- Temporary suspension of operations at two major Chinese mines for safety upgrades is weighing on production, expected to resume with improved safety systems.
- Strong free cash flow of $29 million and $387 million in cash on the balance sheet support ongoing growth projects in China, Ecuador, and Kyrgyzstan.
Q3 2026
Feb 10, 2026
Silvercorp reported robust Q3 fiscal 2026 results with record revenues of $126 million, driven by a significant 80% rise in silver prices, despite a net loss attributed to noncash charges.
Key takeaways
- Revenue surged 51% year-over-year; cash flow from operations and free cash flow increased by 196% and 336%, respectively.
- Adjusted net income reached $47.9 million, reflecting a 118% increase compared to the prior year, showcasing effective cost control.
- Strong cash position of $463 million at quarter-end, bolstered by strategic investments and a successful drawdown from the streaming facility.
- Production metrics showed 1.9 million ounces of silver produced; ongoing enhancements in mining techniques contributing to improved efficiency and reduced costs.
- Current projects, including El Domo, continue to advance with significant investments aimed at expanding mining capacity and future revenue potential.