Movers and SHAKERS
Sierra Metals (SMTS)(SMT:CA)
On Track to Meet First Half Production Guidance; New High-Grade Discovery at Yauricocha
As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. 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 of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First quarter 2022 production. During the first quarter, Sierra Metals produced 6.3 million pounds of copper, 4.2 million pounds of lead, 10.5 million pounds of zinc, 1.9 thousand ounces of gold, and 734 thousand ounces of silver. Compared with the prior year period, first quarter production of copper, lead, zinc, gold, and silver declined 19.9%, 53.2%, 56.5%, 27.0%, and 23.6%, respectively. On a sequential basis, copper and silver production increased 4.2% and 3.2%, respectively, while lead, zinc, and silver production declined 29.9%, 29.6%, and 8.8%, respectively. In our view, production is on track to reach the company’s first half guidance of 34.0 to 39.5 million copper equivalent pounds.
Estimates are little changed. We are maintaining our first quarter and full year EPS estimates of $0.03 and $0.21, respectively. We forecast full year EBITDA of $100.8 million compared to our prior estimate of $100.9 million. Sierra will report first quarter financial results after the market close on May 11 and will host an investor conference call on May 12 at 11:00 am ET ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the 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.