Silvercorp Metals Sees 228% Net Income Jump on Higher Silver Prices

Silvercorp Metals Inc. reported strong Q1 Fiscal 2027 results, with net income rising 228% year-over-year to $59.4 million. The significant profit growth was primarily driven by a 135% year-over-year increase in the average realized silver price to $69.38 per ounce.

Revenue rose 70% to $138.7 million despite lower production volumes, with silver accounting for 77% of quarterly revenue. Adjusted earnings before interest, income tax, depreciation and amortization (EBITDA) attributable to equity shareholders stood at $77.3 million ($0.35 per share), up from $35.0 million in the prior year period.

Operational performance was mixed across metals, with silver production declining 16% due to lower head grades and a voluntary production suspension in China for safety compliance upgrades. The company expects production at the Ying Mining District to be affected by 40-50% in Q2 Fiscal 2027 due to these activities.

Silvercorp ended the quarter with $387.1 million in cash and cash equivalents and short-term investments, a decrease of 8% from March 31, 2026. The company's capital expenditures reached $37.7 million, driven by construction spending on various projects.