Discovery Silver (TSE:DSV) Posts Quarterly Earnings Results

Discovery Silver (TSE:DSV) issued its earnings results on Thursday. The company reported C$0.14 earnings per share (EPS) for the quarter, FiscalAI reports. Discovery Silver had a net margin of 20.03% and a return on equity of 36.88%. The firm had revenue of C$396.28 million for 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 Price Performance

TSE:DSV traded down C$0.57 during trading hours on Friday, hitting C$9.29. The company had a trading volume of 3,206,724 shares, compared to its average volume of 3,328,635. The company has a market capitalization of C$7.53 billion, a PE ratio of 61.93 and a beta of 2.89. The stock has a 50-day moving average price of C$9.32 and a 200 day moving average price of C$8.79. Discovery Silver has a 52 week low of C$2.44 and a 52 week high of C$12.48.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded shares of Discovery Silver to a “strong-buy” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock 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.