Silvercorp Metals Sees 135% Year-Over-Year Silver Price Surge
Silvercorp Metals Inc reported higher revenue and earnings in its first-quarter fiscal 2027 due to a sharp increase in realized silver prices. Revenue rose 70% from a year earlier to C$139 million, with cash flow from operating activities reaching nearly C$62 million, up 28%. The company reported net income of C$59.4 million, or C$0.27 per share.
President Lon Shaver attributed the quarterly performance primarily to a 135% year-over-year increase in the realized selling price of silver, which averaged above $69 per ounce after smelter deductions. Silver represented 77% of Silvercorp's first-quarter revenue.
The company ended the quarter with C$387 million in cash and approximately US$220 million available through undrawn RMB-denominated term loan facilities. Production at the Ying operation was affected by lower head grades and higher dilution associated with a shift toward more shrinkage mining.