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Sierra Metals (SMTS)
Positioned for Improved 2H2019 Financial Performance
Sierra Metals is a mid-size precious and base metal producer with mines in Mexico (Bolivar and Cusi) and Peru (Yauricocha). The company has expanded milling capacity in recent years and is poised to grow as it expands existing operations and makes selective acquisitions. The company has ample brownfield opportunities surrounding its existing mines and is actively drilling at all three of its producing mines.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- SMTS reports modest second quarter loss. SMTS reported a modest second quarter loss of $158 thousand, or ($0.00) per share, versus earnings of $10.8 million, or $0.07 per share during the prior year period. We had forecast earnings of $0.03 per share. Adjusted EBITDA amounted to $12.6 million versus $28.9 million during the prior year period. Relative to the prior year period, second quarter results were negatively impacted by lower metals prices and loss of production due to a worker strike and operating margin was lower versus our estimate.
- Updating estimates. We are lowering our full year 2019 EPS and EBITDA estimates to $0.06 and $65.7 million from $0.15 and $94.2 million, respectively. Additionally, we have lowered our...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.