Wednesday, July 17, 2019
Sierra Metals (SMTS)
Will the Momentum Continue?
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.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
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- SMTS reports second quarter production results. Compared with the prior year period, second quarter production of gold increased 40.0% to 2,540 ounces, silver increased 20.8% to 836 thousand ounces, lead production increased 13.7% to 8.1 million pounds and copper production increased 12.8% to 9.7 million pounds. Zinc production declined 18.3% to 16.6 million pounds. While throughput at the Yauricocha mine was impacted by a worker strike early in the quarter, higher grades and recoveries partially offset the impact on zinc equivalent production.
- Updating estimates. We have trimmed our 2019 EPS and EBITDA estimates to $0.15 and $94.2 million from $0.16 and $98.2 million. The revision to our 2019 estimates reflects…
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