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Silvercorp Metals shares fall as fiscal 4Q earnings miss despite revenue beat

Published: 11:59 25 May 2018 EDT

A truck at a mineral mining site
Shares of the Canadian miner fell over 3% on Friday

Shares of Silvercorp Metals Inc (NYSEAMERICAN:SVM) fell Friday after the Canadian miner reported fiscal fourth-quarter earnings that fell short of estimates.

Silvercorp was down 3.61% to US$2.94 on Friday.

The Vancouver, British Columbia-based miner reported fiscal fourth quarter March 2018 earnings of US$0.04 per share on revenue of US$38.4mln. The consensus earnings estimate was US$0.05 per share on revenue of US$37.6mln. Revenue grew 12.9% on a year-over-year basis.

For the year, the mineral miner reported profit of US$47mln, or US$0.27 per share. Revenue was reported as US$170mln.

Silvercorp is engaged in the exploration and mining of precious and base metal mineral properties. The company’s producing mines are in China and their biggest exploration projects are in China and Canada.

 

 

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