SMTS - SMTS STOCK NEWS

Sierra Metals reported Q1 2022 revenue of $57.2 million, reflecting an 18% decrease year-over-year and an 8% dip from Q4 2021. Adjusted EBITDA was $16.0 million, down 43% from Q1 2021. Net income fell to $0.4 million, or $0.00 per share. Production saw a significant decline, with copper equivalent production down 38% year-over-year. Cash costs increased dramatically, notably at Bolivar with cash costs up 187%. Cash and cash equivalents decreased to $19.5 million as of March 31, 2022. The company anticipates improved production later in 2022 with ongoing drilling efforts.

Sierra Metals Inc. (SMTS) reported its Q1 2022 financial results for Sociedad Minera Corona S.A., revealing a 15% revenue decline to $35.8 million and an 8% drop in adjusted EBITDA to $14.8 million. Cash costs rose by 48% to $2.19 per copper equivalent pound, while the all-in sustaining cost increased by 40% to $3.70. Notably, copper production surged by 60%, but overall metal production fell significantly, leading to a 32% decrease in copper equivalent production. The net income for the quarter was $10.5 million, marking a 103% increase year-over-year due to deferred tax recovery.

Sierra Metals announced the discovery of the new high-grade ore sulfide zone, the 'Fortuna' zone, near its Yauricocha Mine. This follows the exploration drilling of eight holes at the site, revealing high-grade mineralization of copper, zinc, and lead. Key drill results include copper equivalent grades reaching 27.22% and notable widths intersected. CEO Luis Marchese noted this could enhance expected ore grades in the coming years. Continued exploration is planned to maximize the resource potential in the area, promising positive implications for the company’s future production.

Sierra Metals Inc. reports first quarter 2022 production results from its three underground mines in Latin America. Key highlights include:

• Silver production fell 24% to 0.7 million ounces.
• Copper production dropped 20% to 6.3 million pounds.
• Lead production decreased 53% to 4.2 million pounds.
• Zinc production dropped 57% to 10.5 million pounds.
• Gold production also declined by 27% to 1,923 ounces.

The company anticipates improved performance in Q2, aiming to meet guidance of 34.0 to 39.5 million copper equivalent pounds.

Sierra Metals (AMEX:SMTS) will release its Q1-2022 financial results on May 11, 2022, after market close. A shareholder conference call and webcast will follow on May 12, 2022, at 11:00 AM EST. This event will provide key insights into the company's performance and strategic direction. Sierra Metals operates the Yauricocha, Bolivar, and Cusi mines in Peru and Mexico, focusing on increasing copper and base metal production. The webcast will be archived for 180 days on the company's website.

Sierra Metals reported a 2021 revenue of $272 million, a 10% increase from 2020. The adjusted EBITDA also rose by 2% to $104.7 million. However, the company faced a net loss of $27.4 million or $(0.17) per share, compared to a net income of $23.4 million in 2020, driven by a $35 million impairment charge. Despite a 3% increase in ore throughput, copper equivalent production fell by 24%. Looking ahead, the company expects operational improvements, especially at the Bolivar Mine, targeting enhanced production by Q3 2022.

Sierra Metals has submitted an updated technical report on the expansion of its Yauricocha Mine in Peru. Dated February 25, 2022 with an effective date of March 31, 2021, the report follows the National Instrument 43-101 guidelines. Prepared by SRK Consulting and Redco Global, there are no material differences from previous disclosures made on January 20, 2022. The company aims to enhance production volume and mineral resources at its mines in Peru and Mexico.

Sierra Metals Inc. has appointed Ms. Dawn Whittaker to its Board of Directors, effective immediately. Ms. Whittaker brings over 30 years of experience in corporate law, particularly in mergers and acquisitions, corporate governance, and commercial transactions. She previously served as the Canadian Head of the mining practice at Norton Rose Fulbright. Jose Vizquerra, Chairman of Sierra Metals, stated that her expertise will enhance the Board's capabilities and assist in achieving the Company's strategic goals. Sierra Metals operates multiple mines in Peru and Mexico, focusing on increasing production and resource growth.

Sierra Metals (SMTS) has filed its unaudited financial results for Q4 2021, reporting revenues of $43.5 million, a 4% decrease from Q4 2020. Adjusted EBITDA fell 15% to $19.1 million. The company processed 277,531 tonnes, down 11%, with silver and copper production dropping 23% and 19%, respectively. Despite these declines, annual revenues increased 23% to $180.6 million due to higher metal prices. Cash and equivalents stood at $32.9 million as of December 31, 2021.