The record production and massive revenue/earnings beat confirm the Galena growth plan is executing. With $122M cash and maintained guidance, the company is well-positioned. Watch for the May 15 conference call for further color on Q2 trajectory and antimony JV progress.
Price Chart
Executive Summary
Americas Gold & Silver reported record Q1 2026 results: consolidated silver production of ~787,000 oz (up 76% YoY), revenue of $67.8M (up 187% YoY), net income of $10.0M vs a $19.7M loss a year ago, and adjusted EBITDA of $33.6M. The company maintained 2026 guidance of 3.2-3.6M oz silver at $30-35/oz AISC and has $122.4M cash. The strong operational beat across production, revenue, and profitability is a clear positive catalyst.
Key Facts
- Record consolidated silver production of ~787,000 oz in Q1 2026, a 76% increase vs Q1 2025
- Consolidated revenue increased 187% YoY to $67.8 million
- Net income of $10.0 million ($0.03/share) vs net loss of $19.7 million (($0.08)/share) in Q1 2025
- Adjusted EBITDA of $33.6 million vs adjusted EBITDA loss of $5.5 million in Q1 2025
- Cash and cash equivalents of $122.4 million and working capital of $66.8 million as of March 31, 2026
- 2026 production guidance maintained at 3.2-3.6 million ounces of silver at AISC of $30-$35/oz
- Galena Complex silver production up 35% YoY to ~425,000 oz; Cosal Operations up 174% to ~362,000 oz
- Average realized silver price of $79.48/oz in Q1 2026 vs $32.10/oz in Q1 2025
Financial Impact
Revenue surged 187% to $67.8M; net income swung from -$19.7M to +$10.0M; adjusted EBITDA of $33.6M vs -$5.5M prior year
Risk Factors
- Commodity price volatility (silver, copper, antimony) could impact future revenue and margins
- Growth capex of $90-120M in 2026 may pressure cash flows if production ramp stalls
- Cosal Operations in Mexico face geopolitical and operational risks (blockades, work stoppages)
- Galena shaft upgrades and development could face delays or cost overruns
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-002644 |
| Document: form6k.htm | 0001062993-26-002644 |
| Document: 0001062993-26-002644-index-headers.html | 0001062993-26-002644 |
| Document: 0001062993-26-002644-index.html | 0001062993-26-002644 |
| Document: 0001062993-26-002644.txt | 0001062993-26-002644 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 6-K | $3.07 $3.01 | ▼ −1.95% | ▼ −2.67% | $3.19 (+3.91%) |
Oct 19, 2026 8d ago | 6-K | $3.77 $3.61 | ▼ −4.24% | ▼ −4.58% | $3.19 (−15.38%) |
Oct 13, 2026 14d ago | 6-K | $4.02 $3.70 | ▼ −7.96% | ▼ −6.88% | $3.19 (−20.65%) |
Sep 22, 2026 5w ago | 6-K | $5.26 $4.85 | ▼ −7.79% | ▼ −7.07% | $3.19 (−39.35%) |
Sep 18, 2026 5w ago | 6-K | $5.18 $5.02 | ▼ −3.09% | ▼ −4.64% | $3.19 (−38.42%) |
Sep 17, 2026 5w ago | 6-K | $5.06 $5.18 | ▲ +2.37% | ▲ +2.49% | $3.19 (−36.96%) |
Sep 9, 2026 6w ago | 6-K | $5.09 $5.05 | ▼ −0.79% | ▼ −1.64% | $3.19 (−37.33%) |
Aug 14, 2026 10w ago | 6-K | $5.24 $5.16 | ▼ −1.53% | ▼ −1.05% | $3.19 (−39.12%) |
Aug 11, 2026 11w ago | 6-K | $5.14 $5.19 | ▲ +0.97% | ▲ +0.72% | $3.19 (−37.94%) |
Jul 23, 2026 13w ago | 6-K | $4.06 $3.97 | ▼ −2.22% | ▼ −2.32% | $3.19 (−21.43%) |
US Market Status
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