Americas Gold and Silver Reports Q1 Financial Dip

Americas Gold And Silver Corporation (TSE:USA) has released an update.

Americas Gold and Silver Corporation reported a decrease in revenue to $19.5 million in Q1-2024, a 12% drop from the previous year, primarily due to lower zinc prices and reduced silver and lead production, though partially offset by increased silver output at the Cosalá Operations. The company experienced a net loss of $16.2 million, a significant increase from Q1-2023 attributed to lower net revenue, heightened costs of sales, and losses on non-cash derivatives. Despite the dip in production and financial challenges, the company remains optimistic, anticipating an increase in silver prices and production in the upcoming months, along with the development of the EC120 Project expected to yield high-grade silver-copper concentrates.

For further insights into TSE:USA stock, check out TipRanks’ Stock Analysis page.