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Thursday October 17, 2019
Sierra Metals (SMTS)
Third Quarter Production Above Expectations; Raising Estimates
Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
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- SMTS reports third quarter production results. Compared with the prior year period, third quarter production of gold increased 83.1% to 3,490 ounces, silver increased 34.1% to 976 thousand ounces, lead production increased 65.3% to 10.5 million pounds, copper production increased 33.6% to 11.1 million pounds and zinc production increased 8.2% to 22.5 million pounds.
- Increasing estimates. We are increasing our 2019 and 2020 EPS estimates to $0.08 and $0.30 from $0.06 and $0.28, respectively. The increase to our 2019 and 2020 estimates reflects…
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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