While record revenue and increased ore throughput are positive, the combination of declining silver production and rising costs presents margin pressure. Investors should monitor the successful execution of the No. 3 Mill and El Domo project to achieve projected production increases and cost efficiencies.
Price Chart
Executive Summary
Silvercorp Metals reported record annual revenue of $438.1 million for fiscal 2026, up 47% YoY, driven by higher ore throughput despite a 2% decline in silver production. The company issued fiscal 2027 guidance projecting modest production increases but higher all-in sustaining costs, while advancing major capital projects including the El Domo mine and No. 3 Mill.
Key Facts
- Fiscal 2026 revenue reached $438.1 million, a 47% increase from fiscal 2025
- Silver production was 6.8 million ounces, down 2% YoY, while gold production increased 16% to 8,723 ounces
- Ore processed increased 12% to 1,475,512 tonnes, exceeding annual guidance
- Fiscal 2027 guidance projects 6.8-7.1 million ounces of silver and 9,500-10,000 ounces of gold
- Consolidated all-in sustaining cost (AISC) is expected to rise to $155.3-$161.2 per tonne in fiscal 2027 from $137.2 in fiscal 2026
- Total capital expenditures for fiscal 2027 are $141.0 million, including $22.7 million for the No. 3 Mill and $159.8 million for the El Domo project
Financial Impact
Revenue increased by $140.8 million YoY, but higher costs will pressure margins in fiscal 2027 with AISC rising approximately 17% from fiscal 2026 levels
Risk Factors
- Increasing all-in sustaining costs could pressure profitability despite higher production
- Execution risk on major capital projects including the No. 3 Mill and El Domo mine development
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001279569-26-000320 |
| Document: silvercorp6k.htm | 0001279569-26-000320 |
| Document: 0001279569-26-000320-index-headers.html | 0001279569-26-000320 |
| Document: 0001279569-26-000320-index.html | 0001279569-26-000320 |
| Document: 0001279569-26-000320.txt | 0001279569-26-000320 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 6-K | $9.26 | awaiting T+5 | — | $8.22 (+11.23%) |
Oct 19, 2026 7d ago | Press Release | $9.26 | awaiting T+5 | — | $8.22 (+11.23%) |
Oct 7, 2026 18d ago | 6-K | $10.31 $9.76 | ▼ −5.33% | ▼ −5.06% | $8.22 (−20.27%) |
Oct 2, 2026 23d ago | Press Release | $10.55 $10.30 | ▼ −2.37% | ▼ −2.79% | $8.22 (−22.09%) |
Sep 30, 2026 26d ago | 6-K | $10.67 $10.04 | ▼ −5.90% | ▼ −7.82% | $8.22 (−22.96%) |
Sep 29, 2026 27d ago | 6-K | $10.83 $10.51 | ▼ −2.95% | ▼ −4.90% | $8.22 (−24.10%) |
Sep 25, 2026 4w ago | 6-K | $11.34 $10.58 | ▼ −6.70% | ▼ −6.48% | $8.22 (−27.51%) |
Sep 23, 2026 4w ago | 6-K | $11.51 $10.67 | ▼ −7.30% | ▼ −6.62% | $8.22 (−28.58%) |
Sep 17, 2026 5w ago | 6-K | $12.15 $11.34 | ▼ −6.67% | ▼ −7.27% | $8.22 (−32.35%) |
Aug 31, 2026 8w ago | 6-K | $12.44 $12.43 | ▼ −0.08% | ▲ +0.06% | $8.22 (−33.92%) |
US Market Status
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