Last C$1.71 CAD
Change Today +0.02 / 1.18%
Volume 5.8K
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As of 4:00 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

sierra metals inc (SMT) Snapshot

Open
C$1.70
Previous Close
C$1.69
Day High
C$1.73
Day Low
C$1.70
52 Week High
06/17/13 - C$2.59
52 Week Low
03/17/14 - C$1.55
Market Cap
271.8M
Average Volume 10 Days
29.0K
EPS TTM
C$-0.16
Shares Outstanding
158.9M
EX-Date
04/8/14
P/E TM
--
Dividend
C$0.02
Dividend Yield
3.10%
Current Stock Chart for SIERRA METALS INC (SMT)

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sierra metals inc (SMT) Details

Sierra Metals Inc. is engaged in acquisition, exploration, extraction, production, and commercialization of mineral concentrates containing silver, copper, lead, zinc, and gold in Mexico and Peru. The company primarily holds an 81.84% interest in the polymetallic Yauricocha mine covering 18,778 hectares located in the Yauyos province in western central Peru; a 100% interest in the Bolivar mine comprising 12 mining concessions covering approximately 6,616 hectares located in the Piedras Verdes mining district of Chihuahua, Mexico; and a 100% interest in the Cusi mine with 73 concessions covering 11,977 hectares located in the Chihuahua State, Mexico. It also holds interests in the land packages, including Arechuyvo, Batopilas, Maguarichic, Moris, Oribo, Bacerac, Zacatecas, and East Durango properties covering approximately 230,000 hectares located in the Cusi Silver mining district of Mexico. The company was formerly known as Dia Bras Exploration Inc. and changed its name to Sierra Metals Inc. in December 2012. Sierra Metals Inc. was incorporated in 1996 and is headquartered in Vancouver, Canada.

Founded in 1996

sierra metals inc (SMT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$339.9K
Chief Financial officer
Total Annual Compensation: C$299.9K
Chief Commercial Officer
Total Annual Compensation: C$249.2K
General Manager of Sociedad Minera Corona S.A...
Total Annual Compensation: C$299.9K
General Manager of Dia Bras Mexicana S.A. De ...
Total Annual Compensation: C$14.8K
Compensation as of Fiscal Year 2012.

sierra metals inc (SMT) Key Developments

Sierra Metals Inc. Announces Update of Silver Resource Estimate on Cusihuiriachic Property, Chihuahua State, Mexico

Sierra Metals Inc. announced an updated silver resource estimate on its Cusihuiriachic property, Chihuahua State, Mexico. These resources are in two areas of the Cusi Mine currently in commercial production, Promontorio and Santa Eduwiges, as well as in other mines where the Company is doing underground development, such as La Gloria/Minerva, Monaco/Milagro and others. Total estimated Indicated Mineral Resources for the Cusi property with exploration drilling and mine sampling information as of December 31, 2013 are: 1,665,000 tonnes averaging 232 g/t Ag at a cut-off grade of 90 g/t Ag, which contains 12,416,000 ounces of silver, a 70% increase in silver ounces, a 40% increase in silver grade and a 20% increase in tonnes from the previous resource estimate. Total estimated Inferred Mineral Resources are: 2,737,000 tonnes averaging 227 g/t Ag at the same cut-off grade, which contains 20,020,000 ounces of silver, a 37% increase in silver ounces and a 66% increase in tonnes.

Sierra Metals Inc. Announces Audited Earnings and Productions Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Production Guidance for the Year 2014; Records Impairment Charge for the Fourth Quarter Ended December 31, 2013

Sierra Metals Inc. announced audited earnings and productions results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenue of $36,417,000 against $43,738,000 a year ago. Adjusted EBITDA was $12,941,000 against $12,954,000 a year ago. Cash flow from continuing operations was $12,418,000 against $22,678,000 a year ago. Adjusted net income attributable to shareholders was $1,195,000 or $0.01 per share against $5,902,000 or $0.04 per share a year ago. Net loss attributable to shareholders was $14,330,000 or $0.09 per share against $10,747,000 or $0.07 per share a year ago. Basic & diluted loss per share from continuing operations was $0.09 against $0.06 a year ago. Cash flow generated from continuing operations was $12.4 million compared to $22.7 million for the same period in 2012. For the year, the company reported revenue of $143,538,000 against $179,795,000 a year ago. Adjusted EBITDA was $54,502,000 against $83,862,000 a year ago. Cash flow from continuing operations was $26,749,000 against $62,999,000 a year ago. Adjusted net income attributable to shareholders was $16,277,000 or $0.10 per share against $34,267,000 or $0.23 per share a year ago. Net loss attributable to shareholders was $33,973,000 or $0.22 per share against $28,678,000 or $0.19 per share a year ago. Basic & diluted loss per share from continuing operations was $0.22 against $0.17 a year ago. The increase in net losses attributable to shareholders is mainly due the decrease in adjusted EBITDA year-over-year and an impairment charge of $7.8 million in Mexico against certain exploration and evaluation assets. The decrease in EBITDA was mainly a result of lower commodity prices and lower metal production due ore grade dilution caused by water management problems at Yauricocha. The decrease in cash flow was mainly driven by lower adjusted EBITDA and higher uses of working capital. Capital expenditures incurred in Mexico and Peru was $44.0 million. For the quarter, the company reported total silver production of 653,705 oz was produced compared to 683,938 oz for the same period of 2012, 4% decrease year-over-year. Total copper production was 4.8 million lb was produced compared to 4.3 million lb for the same period of 2012, an 11% increase year-over-year. The main driver for this increase is the ramp up from 1,000 tpd to 2,000 tpd at Bolivar. Total lead production was 11.3 million lb was produced compared to 8.7 million lb for the same period of 2012, 30% increase year-over-year mainly driven by higher head grades at Yauricocha in Peru. Total zinc production was 13.4 million lb was produced compared to 14.7 million lb for the same period of 2012, 9% decrease year-over-year. Total gold production at the Yauricocha Mine was 1,665 oz was produced compared to 2,181 oz for the same period of 2012, 24% decrease year-over-year. For the year, the company reported total silver production of 2,560,467 ounces (‘oz’) in 2013 compared to 2,620,774 oz in 2012. Total copper production was 15.9 million pounds (‘lb’) in 2013 compared to 15.9 million lb in 2012. Total lead production was 38.0 million lb in 2013 compared to 35.7 million lb in 2012, 6% increase year-over-year. Total zinc production was 51.7 million lb in 2013 compared to 59.0 million lb in 2012, 12% decrease year-over-year. Total gold production at the Yauricocha Mine was 6,736 oz in 2013 compared to 10,491 oz in 2012, 36% decrease year-over-year. The company provided production guidance for the year 2014. For the year, the company expects silver production in the range of 2,535,000 oz to 2,695,000 oz, copper production in the range of 22.6 million lb to 24.1 million lb, lead production in the range of 31.3 million lb to 33.0 million lb, zinc production in the range of 43.5 million lb to 45.8 million lb, gold production in the range of 7,700 oz to 8,200 oz. During the fourth quarter ended December 31, 2013, the company recorded an impairment charge of $7.8 million in Mexico against certain exploration and evaluation assets. The impairment charge has been recorded mainly as a result of management's decision to cancel certain mining concessions as at December 31, 2013, as management has determined that the carrying value amount is unlikely to be recovered.

Sierra Metals Inc. Declares Quarterly Cash Dividend for the Period Ending March 31, 2014, Payable on April 30, 2014

Sierra Metals Inc. announced its quarterly cash dividend for the period ending March 31, 2014 of CAD 750,000 or CAD 0.005 per common share of the company, payable on April 30, 2014 to the holders of the issued and outstanding common shares as of the close of business on April 10, 2014.

 

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