Silvercorp Metals reports ore mined climbed 3% during 3Q from year earlier

Silvercorp Metals Inc (NYSEAMERICAN:SVM) reported Thursday that ore mined during the third quarter climbed  3% to 260,278 tonnes from a year earlier.

The Vancouver-based miner said it sold about 1.7 million ounces of silver, 1,100 ounces of gold and 17.8 million pounds of lead, up 13%, 57%, and 13% from a year earlier. Zinc sold dropped 36% to 4.1 million pounds, according to Silvercorp.

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For the three months ended December 31, it posted earnings per share of US$0.05 on revenue of US$42.4 million, which was down 5% from a year earlier.

The company ended the quarter with inventories of 4,211 tonnes of silver-lead concentrate and 3,079 tonnes of zinc concentrate, up 13% and 415%, compared with September 30.

Shares of Silvercorp climbed 0.9% to US$2.26 at the close Wednesday, before the company reported. The stock gained 1% to C$3.01 in Canada.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors