Update: Silvercorp Metals' Earnings - My First Call Was Too Early But I'm Bullish Once More
- Silvercorp Metals reported Q1 2015 net income of $2.7 million or $0.02 per share compared to $4.6 million, or $0.03 per share in the comparable 2013 quarter.
- Much like its competitors Silvercorp Metals has been hit by the lower price of silver of the last year and a half.
- Due to cost control measures margins improved to 51% from 44% last quarter as production costs declined 33% year-over-year.
- My buy recommendation was too early but I am bullish once more as Silvercorp has improved operations drastically and is well prepared to benefit from eventual rises in metal prices.