Discovery Silver (TSE:DSV) Announces Quarterly Earnings Results

Discovery Silver (TSE:DSV) announced its earnings results on Thursday. The company reported C$0.14 earnings per share for the quarter, FiscalAI reports. Discovery Silver had a return on equity of 29.78% and a net margin of 16.33%.The business had revenue of C$396.28 million during the quarter.

Here are the key takeaways from Discovery Silver’s conference call:

• Discovery Silver said it is on track to more than double gold production at Porcupine to over 500,000 ounces per year while advancing Cordero toward about 14 million ounces of silver annually over the first 10 years.
• The company highlighted the Kidd operations acquisition as a major growth milestone that could add significant milling capacity, processing flexibility, infrastructure, and skilled labor, with closing expected in the next few weeks.
• Management said exploration remained very strong across Hoyle Pond, TVZ, Owl Creek, Borden, Pamour, and Dome, with 67,000 meters drilled in Q1 and multiple high-grade intercepts supporting future resource growth.
• Q1 production of 60,269 ounces was described as the weakest quarter of the year, affected by lower mill throughput from winter-related issues and scheduled downtime at the Dome crushing circuit.
• Financial performance was strong, with $285 million of revenue, $178 million of EBITDA, and $63 million of adjusted free cash flow, while cash ended the quarter at $384.9 million.

Discovery Silver Stock Down 4.5%

Shares of TSE DSV traded down C$0.46 during mid-day trading on Thursday, hitting C$9.86. 2,371,416 shares of the company traded hands, compared to its average volume of 3,329,947. Discovery Silver has a 1 year low of C$2.43 and a 1 year high of C$12.48. The stock has a market capitalization of C$7.99 billion, a price-to-earnings ratio of 65.73 and a beta of 2.89. The business has a 50 day moving average of C$9.33 and a two-hundred day moving average of C$8.75.

Insider Activity at Discovery Silver

In other news, Director Jennifer Laura Wagner sold 134,145 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of C$9.76, for a total transaction of C$1,309,255.20. Following the completion of the sale, the director directly owned 215,855 shares of the company’s stock, valued at C$2,106,744.80. This represents a 38.33% decrease in their ownership of the stock. 23.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Scotiabank raised Discovery Silver to a “strong-buy” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Discovery Silver Company Profile

Discovery Silver Corp is an exploration and development company building a large-scale, high-margin silver asset in Mexico. Its flagship project is the Cordero project, one of the few silver projects globally that offer margin, size, and scaleability. The project is located in a prolific mining belt in Chihuahua State, Mexico.