Seeking Alpha

Silvercorp -12% after weak quarterly results

  • Silvercorp (SVM -11.9%) shares plunge after the miner reported FQ3 earnings fell to $0.01/share from $0.03 and sales slumped to $24M from $59M, both figures below analyst estimates, and slashed its dividend by 80%.
  • SVM says results were hurt by lower metal production as silver, lead and zinc production fell 42%, 45%, and 58% Q/Q  respectively, and a significantly lower net realized silver price of $16.20/oz., down 35% Q/Q.
  • Gross margin was 44% vs. 64% in FQ2; cash flow from operations was $9.9M vs. $27.8M in the previous quarter.
Comments (14)
  • 6151621
    , contributor
    Comments (1169) | Send Message
     
    Hammered today but SVM was up very strongly yesterday so the market may have been banking on a BEAT and that clearly didn't happen.
    14 Feb, 03:35 PM Reply Like
  • sheeple123jump
    , contributor
    Comments (319) | Send Message
     
    looks like they had a disappointing year.
    15 Feb, 02:26 AM Reply Like
  • bogi
    , contributor
    Comments (267) | Send Message
     
    " Looks like they had a disappointing year " ...really ? What was expected with low metal prices ? Any of the pm's you know had a good year ?
    24 Apr, 07:56 PM Reply Like
  • owlusa
    , contributor
    Comments (11) | Send Message
     
    This company is a fraud there is no trasparency.
    14 Feb, 06:01 PM Reply Like
  • sheeple123jump
    , contributor
    Comments (319) | Send Message
     
    please explain what you mean by calling it fraud. Those allegations were disproved in court. Youre just Flaming if you don't explain your belief in detail.
    Don't be a troll. explain yourself and make your insinuation real based on the facts. I'm waiting to hear your details.
    15 Feb, 02:26 AM Reply Like
  • Llewyth
    , contributor
    Comments (38) | Send Message
     
    And If he is a Troll? Can he change his nature? I mean, he wrote absolutely nothing.

     

    Owlusa is a fraud there is no trasparency.
    15 Feb, 10:29 AM Reply Like
  • owlusa
    , contributor
    Comments (11) | Send Message
     
    I dont have to explain so much, just see how the stock has been work it out since four years ago until now, even the company has been sued by many investers.
    15 Feb, 07:31 PM Reply Like
  • 6151621
    , contributor
    Comments (1169) | Send Message
     
    @owlusa: Yeah, being sued by ambulance chasing lawyers makes one a fraud.<p class="double"> <... was Alfred Little that was the fraud. If you have a problem with the stock performance, then pm`s are not for you. Silver is down 30-60% depending on where you pick your recent highs. Just part of the risk miners face.
    16 Feb, 03:15 AM Reply Like
  • Judy12
    , contributor
    Comments (19) | Send Message
     
    Ok, it was only taken to court to a certain person wouldn't write any more false reports, this person who wrote the results is now being investigated by the BCSC. The lawyers that were calling people to testify in court against SVM never materialized. So, no , the company was never used many times as you put it.
    16 Feb, 09:18 PM Reply Like
  • bogi
    , contributor
    Comments (267) | Send Message
     
    Ah, you are so brain washed ...just reading the garbage without knowing anything.
    24 Apr, 07:57 PM Reply Like
  • Judy12
    , contributor
    Comments (19) | Send Message
     
    Where is your proof owlusa? to make such statements with nothing to back it up?
    15 Feb, 01:04 PM Reply Like
  • owlusa
    , contributor
    Comments (11) | Send Message
     
    there is a comment in sept 2011, that you should see.
    15 Feb, 07:49 PM Reply Like
  • Dan.
    , contributor
    Comments (6) | Send Message
     
    Hoping when silver gets back above 23 we will see some results, im still up from where i bought in so im hanging on for a while
    15 Feb, 01:10 PM Reply Like
  • Leroy Jackson
    , contributor
    Comments (83) | Send Message
     
    It can't drop over 3 bucks a share right now. I am not sure what limit there would be to the upside. Risk to reward with a dividend in place says to me it's worth a shot.
    16 Feb, 10:29 AM Reply Like
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