Q4 silver equivalent production of 9.7M ounces was up 17% from a year ago. Sales volume of 8M ounces fell 13%. Revenue of $287.2M fell 42%. Averaged realized selling price of $21 per ounce fell 33%. Net earnings of $93.9M or $0.26 per share compares to $177.7M or $0.50 per share a year ago.
Average cash costs of $4.14 per ounce of silver and $394 for gold - virtually unchanged from a year ago.
Company expects 2014 silver equivalent production of 36M ounces, roughly unchanged from 2013. By 2018, SLW sees 48M ounces of production, up 35% from last year.
Both Cowen and BMO boost their price targets in wake of the earnings report.