Company Reports Q3 Revenue of $126.1 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 10 2026
0mins
Should l Buy SVM?
Reports Q3 revenue $126.1M vs $83.61M last year. Production was approximately 1.7 million ounces of silver, 2,096 ounces of gold, or 1.9 million ounces of silver equivalent, 14.7 million pounds of lead, and 1.9 million pounds of zinc, representing an increase of 2% in gold and decreases of 2%, 4%, 4%, and 16% in silver, silver equivalent, lead and zinc, respectively, over Q3 Fiscal 2025. Lower production was due to lower head grades, as a result of the XRT sorter undergoing maintenance in October 2025 and higher dilution associated with shrinkage mining.
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Analyst Views on SVM
Wall Street analysts forecast SVM stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 13.560
Low
8.65
Averages
8.82
High
9.00
Current: 13.560
Low
8.65
Averages
8.82
High
9.00
About SVM
Silvercorp Metals Inc. is a Canadian mining company producing silver, gold, lead, and zinc. The Company is engaged in the acquisition, exploration, development, and mining of mineral properties. The Company’s producing mines are located in China and exploration and development projects are located in China and Ecuador. In the Ying Mining District, it has about seven underground mines (SGX, HZG, HPG, TLP, LME, LMW and DCG) and two processing plants. The GC silver-lead-zinc mine is located approximately 200 km west of Guangzhou, the capital city of Guangdong Province, China. El Domo project is a copper-gold mine under construction in central Ecuador, approximately 150 km northeast of the major port city of Guayaquil. The BYP Mine is located approximately 220 km southwest of Changsha, the capital city of Hunan Province, China. Condor project is located in one of Ecuador's developed mining regions. It also has interest in Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Silver Production: The company produced approximately 1.9 million ounces of silver and 2,096 ounces of gold, with silver sales priced at $49.0 per ounce, representing 72% of quarterly revenue, thereby reinforcing its market position.
- Record Cash Flow: Operating cash flow reached $132.9 million, up $88.1 million from the previous year, showcasing the company's success in cost control and sales growth, which enhances its capacity for future investments.
- Surge in Free Cash Flow: Free cash flow amounted to $89.6 million, an increase of $69.0 million compared to the prior year, demonstrating significant improvements in profitability and financial health, laying the groundwork for future expansion and diversification.
See More
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- Record Quarterly Revenue: The company achieved revenue of $126.1 million, a 51% increase year-over-year, with silver sales accounting for 72% of quarterly revenue, indicating robust performance in a high-demand environment that is expected to drive future investments and expansion.
- Significant Cash Flow Growth: Operating cash flow reached $132.9 million, up 196% from the previous year, providing ample financial support for the company and enhancing its competitive edge and flexibility in the market.
- Substantial Increase in Adjusted Net Income: Adjusted net income was $47.9 million, or $0.22 per share, representing a 118% increase from $22.0 million and $0.10 per share in the prior year, reflecting a marked improvement in profitability that boosts investor confidence.
See More
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- VAT Impact: The VAT rate was revised from 10% ($19 million) to 15% ($35 million), resulting in a $16 million increase that accounts for 36% of the total budget growth, which will affect the project's financial planning.
- Rising Equipment Costs: The costs for equipment and material purchases for the process plant have risen by $15 million, which may impact the overall profitability and return on investment of the project.
- Tax Credit Expectations: The company anticipates recovering the VAT expenditure as a tax credit in the first year of operations once concentrate exports commence, thereby alleviating some financial pressure.
See More
