Group 1 - Hilltop Metal Mining (SVM.US) saw a 6.40% increase in stock price, reaching $4.49, with a year-to-date gain of 50% [1] - Gold prices rose for the second consecutive trading day, increasing by 1.7%, recovering losses from the past two weeks [1] - International copper prices surged, with a peak of $9,984 per ton, and COMEX copper rising nearly 2% [1] Group 2 - Goldman Sachs raised its 2025 LME copper price forecast from $9,140 per ton to $9,890 per ton, expecting a peak of $10,050 per ton in August [1] - Hilltop focuses on the acquisition, exploration, development, and production of non-ferrous and precious metal mines, including silver, gold, lead, and zinc [1] - The EL Domo copper-gold project has completed a feasibility study, with a resource estimate of 10.1 million tons containing 22.9 tons of gold, 438.2 tons of silver, 20.8 million tons of copper, 25.5 million tons of zinc, and 2.3 million tons of lead [1] Group 3 - The optimism surrounding the U.S. "Build Back Better" legislation is believed to be a key driver for the rise in copper prices [2] - The U.S. dollar index fell below 97, with a decline of over 10% in the first half of the year, marking the worst performance since 1973 [2] - Goldman Sachs now anticipates the Federal Reserve will implement three rate cuts of 25 basis points starting September 2025, compared to a previous forecast of only one cut in December [2]

Group 1 - Silvercorp Metals Inc. has filed an updated mineral resource estimate for its Condor gold project, titled "Independent Technical Report for the Condor Project, Ecuador," effective February 28, 2025 [1] - The Technical Report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available on the company's website and regulatory filings [2] - There are no material differences between the Technical Report and the previously released information, and the Condor Project is not currently considered a material property of the company [3] Group 2 - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy aimed at generating shareholder value through free cash flow, organic growth, mergers and acquisitions, and a commitment to responsible mining and ESG [4]

Core Viewpoint - Silvercorp Metals Inc. has filed its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission, which includes audited financial statements and management's discussion [1][2] Company Overview - Silvercorp is a Canadian mining company engaged in the production of silver, gold, lead, and zinc, with a strong history of profitability and growth potential [3] - The company's strategy focuses on generating free cash flow from long-life mines, organic growth through extensive drilling, ongoing merger and acquisition efforts, and a long-term commitment to responsible mining and ESG [3]

Core Viewpoint - Silvercorp reported quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.09 per share, but showing an improvement from $0.02 per share a year ago, indicating a -22.22% earnings surprise [1] Financial Performance - The company posted revenues of $75.11 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.02%, and showing significant growth from year-ago revenues of $42.68 million [2] - Over the last four quarters, Silvercorp has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Silvercorp shares have increased approximately 30.3% since the beginning of the year, contrasting with the S&P 500's decline of -0.6% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.10 for the coming quarter and $0.30 for the current fiscal year, alongside expected revenues of $85 million and $287.7 million respectively [7] - The estimate revisions trend for Silvercorp is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] Industry Context - The Mining - Miscellaneous industry, to which Silvercorp belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating that the industry's outlook can significantly impact the stock's performance [8]

Core Viewpoint - Silvercorp (SVM) is anticipated to report a year-over-year increase in earnings due to higher revenues for the quarter ended March 2025, with the actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The earnings report is expected to be released on May 22, 2025, with a consensus estimate of $0.09 per share, reflecting a year-over-year increase of 350% [3]. - Revenues are projected to reach $75.1 million, which is a 76% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 16.67% over the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the deviation of actual earnings from the consensus estimate, with a positive reading being a strong predictor of an earnings beat [7][8]. - Silvercorp currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, Silvercorp met the expected earnings of $0.10 per share, resulting in no surprise [12]. - Over the past four quarters, the company has beaten consensus EPS estimates twice [13]. Conclusion - While Silvercorp does not appear to be a compelling earnings-beat candidate, investors should consider other factors when making decisions regarding the stock ahead of its earnings release [16].

Core Viewpoint - Silvercorp Metals Inc. has announced an updated independent mineral resource estimate for its Condor gold project in Ecuador, focusing on higher-grade materials accessible through underground mining [1][3]. Group 1: Mineral Resource Estimate (MRE) Details - The MRE update was conducted by SRK Consulting with an effective date of February 28, 2025, emphasizing underground resources at Camp and Los Cuyes deposits based on various cutoff grades [3][4]. - Total indicated underground mineral resources are 3.17 million tonnes at Camp and Los Cuyes, containing 0.34 million ounces of gold, 2.0 million ounces of silver, and 49.4 million pounds of zinc at a cutoff grade of 2.2 g/t AuEq [7]. - Total inferred underground mineral resources amount to 12.1 million tonnes, containing 1.38 million ounces of gold, 8.56 million ounces of silver, and 204.2 million pounds of zinc at the same cutoff grade [7]. Group 2: Preliminary Economic Assessment (PEA) Plans - Following the MRE update, the company plans to publish an updated Preliminary Economic Assessment study for the Condor project by the end of 2025 [2][16]. - The company will also undertake a 3,500-meter surface drilling program to explore areas with potential for higher-grade zones [16]. Group 3: Conceptual Open Pit Resources - Conceptual open pit constrained mineral resources for Soledad and Enma deposits are reported, with total indicated resources of 4.06 million tonnes containing 0.14 million ounces of gold and 9.27 million ounces of silver [13]. - Total inferred open pit mineral resources are 14.17 million tonnes, containing 0.35 million ounces of gold and 2,676 thousand ounces of silver [13]. Group 4: Future Steps and Strategy - The company is advancing necessary permits and community agreements to develop exploration tunnels into higher-grade zones, which will inform a possible feasibility study following the PEA [16]. - Silvercorp aims to create shareholder value through generating free cash flow, organic growth via extensive drilling, and ongoing merger and acquisition efforts [18].

Capital Cost Estimate Details The table below summarizes the schedule and costs to construct the El Domo Project: | | | Fiscal 2026Fiscal 2027Total | | | --- | --- | --- | --- | | | ($ Million) | ($ Million) | ($ Million) | | 1Package #1 - Site preparation/Roads/Channels/TSF/SWD | $29.2 | $18.2 | $47.5 | | 2Package #2 - Open Pit Mining and Stripping | 7.0 | 32.0 | 39.0 | | 3Package #3 - Processing Plant Construction and Equipment | 14.0 | 19.0 | 33.0 | | 4Temporary and Permanent Camps | 2.0 | 5.0 | 7.0 | | ...

Core Viewpoint - Silvercorp Metals Inc. reported significant increases in production and sales figures for Q4 Fiscal 2025 and the entire Fiscal 2025, with expectations for continued growth in Fiscal 2026 [1][6][11]. Fiscal 2025 Operational Highlights - In Q4 Fiscal 2025, the Ying Mining District processed 304,224 tonnes of ore, a 69% increase from Q4 Fiscal 2024, producing approximately 1,563 Koz of silver, 3,110 oz of gold, and 15,563 Klbs of lead, with respective increases of 62%, 47%, 38% [3][6]. - The GC Mine processed 41,760 tonnes of ore, down 27% from Q4 Fiscal 2024, producing 67 Koz of silver, 699 Klbs of lead, and 2,365 Klbs of zinc, reflecting decreases of 23%, 42%, and 16% respectively [4][6]. Consolidated Financial Performance - The company achieved revenue of approximately $75.1 million in Q4 Fiscal 2025, a 76% increase year-over-year, and a record annual revenue of approximately $298.9 million, up 39% from Fiscal 2024 [6][8]. - Record silver production reached approximately 6.9 million ounces for Fiscal 2025, a 12% increase, aligning with the company's annual production guidance [6][8]. Fiscal 2026 Production Guidance - For Fiscal 2026, Silvercorp expects to process between 1,331,000 to 1,369,000 tonnes of ore, with projected production of 8,100 to 9,000 oz of gold, 7,380 to 7,600 Koz of silver, and 65,200 to 66,900 Klbs of lead, indicating increases of 21% to 39% in gold and 6% to 9% in silver production compared to Fiscal 2025 [11][12]. - The cash cost at the Ying Mining District is anticipated to be $86.8 to $88.4 per tonne, while the all-in sustaining cost (AISC) is estimated at $157.8 to $160.5 per tonne [13][16]. Capital Expenditure Guidance - Total capital expenditure for Fiscal 2026 is projected at $86.6 million, with $73.4 million allocated to the Ying Mining District and $9.3 million to the GC Mine [18][19]. - The company plans to invest in ramp and tunnel development, exploration tunneling, and diamond drilling to enhance production capabilities [19][20].

Group 1: Company Performance - EMX Royalty Corp. has returned 9.8% year-to-date, outperforming the Basic Materials sector's average return of 8% [4] - The Zacks Consensus Estimate for EMX's full-year earnings has increased by 33.3% over the past three months, indicating improved analyst sentiment and a more positive earnings outlook [3] - EMX Royalty Corp. currently holds a Zacks Rank of 1 (Strong Buy), suggesting strong potential for future performance [3] Group 2: Industry Context - EMX Royalty Corp. is part of the Mining - Miscellaneous industry, which includes 59 stocks and currently ranks 183 in the Zacks Industry Rank [6] - The average return for stocks in the Mining - Miscellaneous industry this year is 7.3%, indicating that EMX is performing better than its peers in this specific industry [6] - Another stock in the Basic Materials sector, Silvercorp, has significantly outperformed the sector with a year-to-date return of 38.3% [4][5]

Production and Operations - Silvercorp produced approximately 2.1 million ounces of silver equivalent, including 1.9 million ounces of silver and 2,056 ounces of gold, during the third quarter of fiscal year 2025[11]. - For the three months ended December 31, 2024, the company mined 383,543 tonnes of ore, an increase of 11% compared to 345,273 tonnes in the same period of 2023[14]. - The company produced approximately 2,056 ounces of gold, 1.9 million ounces of silver, and 17.1 million pounds of lead in Q3 Fiscal 2025, representing increases of 53%, 16%, and 2% respectively compared to Q3 Fiscal 2024[16]. - A total of 297,246 tonnes of ore were mined in Q3 Fiscal 2025, representing a 21% increase compared to 245,606 tonnes in Q3 Fiscal 2024[32]. - Gold production increased by 53% to 2,056 ounces in Q3 Fiscal 2025, while silver production rose by 18% to 1.8 million ounces[37]. - The company completed 66,230 metres of diamond drilling in Q3 Fiscal 2025, valued at $2.0 million, compared to 87,017 metres valued at $2.4 million in Q3 Fiscal 2024[27]. - The company completed approximately 55,547 metres of diamond drilling in Q3 Fiscal 2025, down from 63,778 metres in Q3 Fiscal 2024[40]. Financial Performance - The company reported revenue of $83.6 million, with net income attributable to equity shareholders of $26.1 million, or $0.12 per share[11]. - Revenue in Q3 Fiscal 2025 was $83.6 million, a 43% increase from $58.5 million in Q3 Fiscal 2024, driven by higher realized selling prices and increased sales of gold, silver, and lead[108]. - Income from mine operations in Q3 Fiscal 2025 was $29.2 million, up 25% compared to $23.3 million in Q3 Fiscal 2024, primarily due to increased revenue from higher metal selling prices and sales volume[114]. - The Company's consolidated financial results showed a 30% increase in revenue for the nine months ended December 31, 2024, reaching $223.8 million compared to $172.5 million in the same prior year period[125]. - Net income attributable to equity shareholders for the nine months ended December 31, 2024, was $65.8 million or $0.33 per share, compared to $30.8 million or $0.17 per share in the same prior year period[122]. - Adjusted net income attributable to equity shareholders in Q3 Fiscal 2025 was $22.0 million or $0.10 per share, up from $11.5 million or $0.06 per share in Q3 Fiscal 2024[107]. Costs and Expenditures - Cash costs per ounce of silver, net of by-product credits, were negative $1.88, while all-in sustaining costs per ounce of silver were $12.75[11]. - The consolidated mining costs were $63.82 per tonne in Q3 Fiscal 2025, up 7% from $59.43 per tonne in Q3 Fiscal 2024[19]. - Total capital expenditures in Q3 Fiscal 2025 were $25.3 million, a 29% increase from $19.6 million in Q3 Fiscal 2024, primarily due to more tunneling and construction activities[26]. - Costs of mine operations in Q3 Fiscal 2025 were $54.4 million, a 54% increase from $35.2 million in Q3 Fiscal 2024, with significant rises in government fees and mineral resource taxes[112]. - For the nine months ended December 31, 2024, costs of mine operations were $126.4 million, a 20% increase from $105.0 million in the same prior year period[128]. Cash and Investments - The company has existing cash of $211.1 million, plus $143.3 million net proceeds from the issuance of unsecured convertible senior notes, totaling $354.6 million in cash and cash equivalents[11]. - Cash and cash equivalents as of December 31, 2024, were $344.7 million, up 92% from $184.9 million as of March 31, 2024[141]. - Working capital increased by 94% to $300.2 million as of December 31, 2024, compared to $154.7 million as of March 31, 2024[142]. - The company holds a portfolio of equity investments in associates and other companies with a total market value of $68.9 million as of December 31, 2024[11]. - The investment in New Pacific Metals Corp. (NUAG) represented a 27.3% ownership interest, with a market value of $55.4 million as of December 31, 2024[94][96]. Acquisitions and Projects - Silvercorp acquired a 75% interest in the El Domo project and a 98.7% interest in the Condor project through the acquisition of Adventus Mining Corporation[6]. - The El Domo Project was acquired through the acquisition of Adventus Mining Corporation on July 31, 2024, and is a permitted, pre-construction stage copper-gold project[66]. - The Kuanping Project received all required permits and licenses and is now ready for construction[63]. - The Company plans to start production at the El Domo Project in the second half of 2026, with ongoing site preparation and infrastructure development[75]. Risks and Challenges - The Company is exposed to various risks including metal price risk, credit risk, and foreign exchange risk, which are continuously assessed and mitigated[161]. - The Company’s mineral resource and reserve estimates are subject to uncertainties and may change, potentially impacting operational results and financial conditions[186]. - The Company’s exploration and development programs carry a high risk of failure, with no assurance that discovered mineralization will lead to profitable production[188]. - Market conditions, including volatility in commodity prices and credit market contractions, may adversely affect the company's revenue and profitability[195]. - The company faces risks in acquiring mineral assets overseas, including exposure to different legal standards and regulatory policies[197].