Monitor Q4 2026 production results due in early 2027 to confirm Bolivar flood recovery completion and the new milling facility ramp. No financial data to assess margin or profitability impact.
Price Chart
Executive Summary
Santacruz Silver reported Q3 2026 production results: consolidated silver production of 1,500,958 ounces (down 5% QoQ but up 21% YoY) and zinc production of 22,080 tonnes (down 5% QoQ, up 2% YoY). Mining operations silver production rose 2% QoQ and 30% YoY, driven by Bolivar's 19% QoQ increase as flood recovery progresses, while the San Lucas ore processing business saw planned volume reductions as the company prioritized higher-margin own-mine ore. The company acquired a new 500-tonne-per-day milling facility to be dedicated to San Lucas, expected to commence operations in Q4 2026.
Key Facts
- Consolidated silver production: 1,500,958 oz in Q3 2026, down 5% QoQ from 1,573,100 oz, up 21% YoY from 1,241,929 oz
- Consolidated zinc production: 22,080 tonnes in Q3 2026, down 5% QoQ from 23,240 tonnes, up 2% YoY from 21,581 tonnes
- Mining operations silver production: 1,186,507 oz, up 2% QoQ and 30% YoY
- Bolivar mine silver production: 408,087 oz, up 19% QoQ, with full recovery from May 2025 flooding expected in Q4 2026
- San Lucas ore processing silver production: 314,451 oz, down 24% QoQ due to strategic reallocation of mill capacity to higher-margin own-mine ore
- Acquired a new 500-tonne-per-day milling facility in Bolivia dedicated to San Lucas, operations to commence in Q4 2026
- Zimapan mine: silver production: 402,067 oz, up 3% QoQ, driven by improved silver recovery from 72% to 76%
- Average Q3 2026 LME metal prices: silver $62.73/oz, zinc $3,830/tonne, lead $1,857/tonne, copper $14,121/tonne
- Silver equivalent production: 3,027,229 silver equivalent ounces
- No revenue, EPS, or cash flow figures reported in this production release
Financial Impact
Production volumes only; no revenue, EPS, or cash flow figures reported. Silver production up 21% YoY and mining operations silver up 30% YoY, but consolidated silver down 5% QoQ. No financial data to quantify impact.
Risk Factors
- Bolivar flood recovery remains ongoing; full recovery expected in Q4 2026 but not yet confirmed
- Caballo Blanco silver grades declined 21% QoQ as part of planned mine sequence; grades expected to improve in Q4 2026 but not guaranteed
- Porco experienced a 2.5-day unscheduled plant stoppage due to power grid repairs
- No revenue, EPS, or cash flow data provided; no financial data to assess profitability
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-048126 |
| Document: form6-k.htm | 0001493152-26-048126 |
| Document: 0001493152-26-048126-index-headers.html | 0001493152-26-048126 |
| Document: 0001493152-26-048126-index.html | 0001493152-26-048126 |
| Document: 0001493152-26-048126.txt | 0001493152-26-048126 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 6-K | $7.13 | awaiting T+20 | — | $6.99 (−1.94%) |
Sep 18, 2026 5w ago | 6-K | $9.03 $8.39 | ▼ −7.09% | ▼ −6.18% | $6.99 (−22.57%) |
Sep 9, 2026 6w ago | 6-K | $10.43 $8.45 | ▼ −18.98% | ▼ −20.93% | $6.99 (−32.96%) |
Aug 17, 2026 10w ago | 6-K | $8.75 $8.64 | ▼ −1.26% | ▲ +0.72% | $6.99 (−20.09%) |
Aug 7, 2026 11w ago | 6-K | $8.98 $9.97 | ▲ +11.02% | ▲ +11.94% | $6.99 (−22.14%) |
Jun 30, 2026 16w ago | 6-K | $6.49 $6.31 | ▲ +2.77% | ▲ +1.75% | $6.99 (−7.73%) |
Jun 9, 2026 19w ago | 6-K | $6.03 $6.67 | ▲ +10.61% | ▲ +6.99% | $6.99 (+15.95%) |
May 4, 2026 24w ago | 6-K | $7.78 $8.33 | ▲ +7.07% | ▲ +2.12% | $6.99 (−10.13%) |
Apr 17, 2026 27w ago | 6-K | $9.10 $8.56 | ▼ −5.93% | ▼ −10.14% | $6.99 (−23.16%) |
US Market Status
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