Here we are, perched a the starting line of that great quarterly news-machine called earnings season. It’s always an exciting time — Who will report good news? Who will report bad news? And who is just mired in dull, yawning averageness? The bulk of earnings season kicks off next Monday (April 15th), but no silver miners are scheduled to report until Coeur Mining (CDE) after the close on April 24th.
Silver prices have dropped slightly over the past 3 months, so we’ll have to wait a while to see what the official impact is on miner’s bottom lines — at least, those listed on US stock exchanges. But for now, we can look at Fortuna’s basic operating numbers, which they released this morning. It looks like silver production is down 7% over the same quarter last year (2018 Q1), while gold production is down 11%.
This is in-line with expectations, but it’s not really good to see production dropping. In fact, if these numbers are typical, earnings season just might be a bad time for silver miners. You can read more about Fortuna’s report in today’s featured article.
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