Why SilverCrest Metals Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
SilverCrest Metals Inc. (NYSE:SILV) shares surged after reporting Q4 2023 results with revenue of $61.3 million, beating the consensus of $44.1 million. The company also exceeded its sales guidance and AISC guidance for the year, with mine operating earnings of $36.9 million and an EPS of $0.24, surpassing the consensus of $0.10. CEO N. Eric Fier highlighted the successful first full year of commercial production at Las Chispas and the mobilization of a new underground mining contractor. FY24 outlook remains in line with previous forecasts, with SILV shares up 18% at $6.57.
March 11, 2024 | 3:44 pm
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SilverCrest Metals Inc. reported strong Q4 2023 results with significant revenue and EPS beats, a successful year at Las Chispas, and positive FY24 outlook, leading to an 18% surge in stock price.
The significant outperformance in Q4 2023 earnings, coupled with a successful operational year and positive forward guidance, directly impacts investor sentiment and stock price. The 18% surge in SILV shares reflects strong investor confidence in the company's operational and financial health, suggesting a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100