Americas Gold and Silver Reports Record Q1 Silver Production
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy USAS?
Source: seekingalpha
- Record Silver Production: Americas Gold and Silver reported a 76% year-over-year surge in Q1 silver production, reaching a record 787K ounces, while sales also hit a historic high of 830K ounces, indicating significant growth amid strong market demand.
- Lead and Copper Output: The consolidated Q1 production of lead totaled 2 million pounds, with copper output at 967K pounds, reflecting the company's stability in multi-metal production and enhancing its competitive position in the resource market.
- Upgrade Progress: The company stated that Phase 2 upgrades to the No. 3 shaft are on schedule for completion during a planned two-week shutdown this quarter, with increased hoisting speeds expected to reach approximately 105 short tons per hour, significantly boosting ore handling capacity.
- Operational Efficiency Gains: This upgrade will support the transition to long hole stoping at the Galena mine, expected to further enhance tonnage and improve overall operational efficiency and future production potential.
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Analyst Views on USAS
Wall Street analysts forecast USAS stock price to fall
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 6.440
Low
4.90
Averages
5.91
High
6.84
Current: 6.440
Low
4.90
Averages
5.91
High
6.84
About USAS
Americas Gold and Silver Corporation is a Canada-based precious metals mining company with multiple assets in North America. It owns and operates the Galena Complex, Cosala Operations, and the Relief Canyon mine. It also owns the San Felipe development project in Sonora, Mexico. The 100% owned Galena Complex is located in Idaho's Silver Valley. The 100%-owned Cosala Operations are located in the state of Sinaloa, Mexico and consist of about 67 mining concessions that cover approximately 19,385 hectares (ha). The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Its landholdings cover over 25,000 acres, which include the Relief Canyon Mine asset and lands surrounding the mine in all directions. The San Felipe silver-zinc-lead project is located in Sonora, Mexico. It also owns Crescent Silver Mine, which is located over four miles southeast of Kellogg, Idaho, and consists of 10 acres of surface rights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Gold Exploration Budgets Rise 11% to $6.2 Billion
- Exploration Budget Increase: Global gold exploration budgets rose by 11% to $6.2 billion in 2025, now accounting for 50% of total spending, indicating sustained market interest despite most funds being directed towards drilling existing mines rather than discovering new deposits.
- Silver Supply Deficit: A projected supply deficit of 67 million ounces of silver in 2026 highlights its classification as a strategically critical metal by governments, suggesting ongoing strong demand in a tightening resource landscape.
- Technological Advancements: GoldHaven Resources is set to conduct a 1,741-kilometer high-resolution magnetic survey at its Magno Project in partnership with Dias Airborne Limited, starting in June 2026, aimed at enhancing the identification of drilling targets across mineralized systems.
- Diversified Exploration Strategy: GoldHaven's completion of its first drilling program at the Copeçal Gold Project in Brazil confirms gold and copper anomalies, showcasing the strategic advantage of conducting simultaneous explorations across multiple jurisdictions to increase discovery probabilities.
See More
Americas Gold and Silver Reports Record Q1 Silver Production
- Record Silver Production: Americas Gold and Silver reported a 76% year-over-year surge in Q1 silver production, reaching a record 787K ounces, while sales also hit a historic high of 830K ounces, indicating significant growth amid strong market demand.
- Lead and Copper Output: The consolidated Q1 production of lead totaled 2 million pounds, with copper output at 967K pounds, reflecting the company's stability in multi-metal production and enhancing its competitive position in the resource market.
- Upgrade Progress: The company stated that Phase 2 upgrades to the No. 3 shaft are on schedule for completion during a planned two-week shutdown this quarter, with increased hoisting speeds expected to reach approximately 105 short tons per hour, significantly boosting ore handling capacity.
- Operational Efficiency Gains: This upgrade will support the transition to long hole stoping at the Galena mine, expected to further enhance tonnage and improve overall operational efficiency and future production potential.
See More
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- Silver Market Tightness: China has purchased more silver in two months than in the past eight years, leading to a global inventory decline and marking the sixth consecutive year of supply deficits, which is expected to push silver prices to $81 per ounce, more than double last year's average, attracting investor interest in mining companies.
- GoldHaven Project Progress: GoldHaven Resources has submitted a drill permit application for its 2026 program targeting high-grade silver-lead-zinc zones at the Magno Project in British Columbia, with surface samples showing silver concentrations as high as 2,370 grams per tonne, further validating the area's mineral potential.
- Critical Minerals Strategy: With the U.S. rolling out a $12 billion strategic reserve plan to stockpile tungsten, antimony, and other critical minerals, GoldHaven's polymetallic deposits are becoming a focal point for investment, especially in stable jurisdictions, expected to benefit from a structural realignment in global mineral resources.
- Financing and Expansion Plans: GoldHaven is conducting a $1.72 million flow-through financing to support its 2026 exploration efforts while completing its first diamond drilling program at the Copeçal Gold Project in Brazil, confirming gold and copper anomalies, showcasing the company's active exploration capabilities across multiple projects.
See More
Americas Gold and Silver Shares Rise 7.8% on Outperform Rating from BMO
- Rating Upgrade: BMO Capital initiated coverage on Americas Gold and Silver (USAS) with an Outperform rating and a C$10 price target, resulting in a 7.8% increase in share price during Wednesday's trading, reflecting market optimism about the company's future performance.
- Production Growth Forecast: Company management is guiding for silver production of 3.2M to 3.6M ounces in FY 2026, representing approximately 30% year-over-year growth, which is expected to significantly enhance the company's cash flow generation capabilities and strengthen its market competitiveness.
- Cost Control Targets: Americas Gold and Silver has set an all-in sustaining cost target of $30 to $35 per ounce, and with production growth, this is anticipated to further improve the company's profitability and financial health.
- Management Team Advantage: With the addition of Paul Huet and his experienced management team, BMO analysts believe the company's optimization strategy at the Galena operation will be effectively executed, facilitating the company's transition towards sustained output.
See More
Americas Gold And Silver Corp 2025 Financial Report Analysis
- Silver Production Growth: Americas Gold And Silver Corp achieved a 52% increase in attributable silver production in 2025, reaching 2.65 million ounces, demonstrating enhanced production capacity and market demand despite facing high operational costs.
- Safety Culture Strengthening: The Galena team completed a full year without any lost time accidents, highlighting the company's ongoing commitment to safety culture, which not only boosts employee morale but also reduces potential operational risks.
- Infrastructure Upgrades: Significant infrastructure upgrades at Galena, including the installation of a new 2,250-horsepower motor, have increased hoisting capacity by 160%, directly enhancing production efficiency and lowering unit costs, thereby strengthening the company's competitive position.
- Increased Financial Loss: Despite the increase in silver production, Americas Gold And Silver Corp reported a net loss of $87 million in 2025, up from a $49 million loss in 2024, reflecting the pressure of high sustaining costs and capital expenditures on cash flow.
See More
Americas Gold and Silver FY 2025 Financial Report Analysis
- Earnings Miss: Americas Gold and Silver reported a FY 2025 non-GAAP EPS of -$0.13, missing expectations by $0.04, indicating ongoing challenges in profitability that may affect investor confidence.
- Adjusted EBITDA Loss: The adjusted EBITDA loss for 2025 reached $4.1 million ($0.02 per share), significantly higher than the $1.5 million loss ($0.01 per share) in 2024, reflecting rising operational costs and market pressures.
- Silver Production Increase: The company achieved consolidated silver production of approximately 2.65 million ounces in 2025, a 52% increase from 1.7 million ounces in 2024, indicating improved production capacity but necessitating close monitoring of cost control.
- Future Production Guidance: For 2026, the company projects silver production between 3.2 to 3.6 million ounces, with an average all-in sustaining cost of $30 to $35 per ounce, reflecting a cautiously optimistic outlook for future growth while remaining vigilant about cost fluctuations.
See More
Gold Exploration Budgets Rise 11% to $6.2 Billion
- Exploration Budget Increase: Global gold exploration budgets rose by 11% to $6.2 billion in 2025, now accounting for 50% of total spending, indicating sustained market interest despite most funds being directed towards drilling existing mines rather than discovering new deposits.
- Silver Supply Deficit: A projected supply deficit of 67 million ounces of silver in 2026 highlights its classification as a strategically critical metal by governments, suggesting ongoing strong demand in a tightening resource landscape.
- Technological Advancements: GoldHaven Resources is set to conduct a 1,741-kilometer high-resolution magnetic survey at its Magno Project in partnership with Dias Airborne Limited, starting in June 2026, aimed at enhancing the identification of drilling targets across mineralized systems.
- Diversified Exploration Strategy: GoldHaven's completion of its first drilling program at the Copeçal Gold Project in Brazil confirms gold and copper anomalies, showcasing the strategic advantage of conducting simultaneous explorations across multiple jurisdictions to increase discovery probabilities.
See More
Americas Gold and Silver Reports Record Q1 Silver Production
- Record Silver Production: Americas Gold and Silver reported a 76% year-over-year surge in Q1 silver production, reaching a record 787K ounces, while sales also hit a historic high of 830K ounces, indicating significant growth amid strong market demand.
- Lead and Copper Output: The consolidated Q1 production of lead totaled 2 million pounds, with copper output at 967K pounds, reflecting the company's stability in multi-metal production and enhancing its competitive position in the resource market.
- Upgrade Progress: The company stated that Phase 2 upgrades to the No. 3 shaft are on schedule for completion during a planned two-week shutdown this quarter, with increased hoisting speeds expected to reach approximately 105 short tons per hour, significantly boosting ore handling capacity.
- Operational Efficiency Gains: This upgrade will support the transition to long hole stoping at the Galena mine, expected to further enhance tonnage and improve overall operational efficiency and future production potential.
See More
China's Record Silver Purchases Propel GoldHaven Resources Opportunities
- Silver Market Tightness: China has purchased more silver in two months than in the past eight years, leading to a global inventory decline and marking the sixth consecutive year of supply deficits, which is expected to push silver prices to $81 per ounce, more than double last year's average, attracting investor interest in mining companies.
- GoldHaven Project Progress: GoldHaven Resources has submitted a drill permit application for its 2026 program targeting high-grade silver-lead-zinc zones at the Magno Project in British Columbia, with surface samples showing silver concentrations as high as 2,370 grams per tonne, further validating the area's mineral potential.
- Critical Minerals Strategy: With the U.S. rolling out a $12 billion strategic reserve plan to stockpile tungsten, antimony, and other critical minerals, GoldHaven's polymetallic deposits are becoming a focal point for investment, especially in stable jurisdictions, expected to benefit from a structural realignment in global mineral resources.
- Financing and Expansion Plans: GoldHaven is conducting a $1.72 million flow-through financing to support its 2026 exploration efforts while completing its first diamond drilling program at the Copeçal Gold Project in Brazil, confirming gold and copper anomalies, showcasing the company's active exploration capabilities across multiple projects.
See More
Americas Gold and Silver Shares Rise 7.8% on Outperform Rating from BMO
- Rating Upgrade: BMO Capital initiated coverage on Americas Gold and Silver (USAS) with an Outperform rating and a C$10 price target, resulting in a 7.8% increase in share price during Wednesday's trading, reflecting market optimism about the company's future performance.
- Production Growth Forecast: Company management is guiding for silver production of 3.2M to 3.6M ounces in FY 2026, representing approximately 30% year-over-year growth, which is expected to significantly enhance the company's cash flow generation capabilities and strengthen its market competitiveness.
- Cost Control Targets: Americas Gold and Silver has set an all-in sustaining cost target of $30 to $35 per ounce, and with production growth, this is anticipated to further improve the company's profitability and financial health.
- Management Team Advantage: With the addition of Paul Huet and his experienced management team, BMO analysts believe the company's optimization strategy at the Galena operation will be effectively executed, facilitating the company's transition towards sustained output.
See More
Americas Gold And Silver Corp 2025 Financial Report Analysis
- Silver Production Growth: Americas Gold And Silver Corp achieved a 52% increase in attributable silver production in 2025, reaching 2.65 million ounces, demonstrating enhanced production capacity and market demand despite facing high operational costs.
- Safety Culture Strengthening: The Galena team completed a full year without any lost time accidents, highlighting the company's ongoing commitment to safety culture, which not only boosts employee morale but also reduces potential operational risks.
- Infrastructure Upgrades: Significant infrastructure upgrades at Galena, including the installation of a new 2,250-horsepower motor, have increased hoisting capacity by 160%, directly enhancing production efficiency and lowering unit costs, thereby strengthening the company's competitive position.
- Increased Financial Loss: Despite the increase in silver production, Americas Gold And Silver Corp reported a net loss of $87 million in 2025, up from a $49 million loss in 2024, reflecting the pressure of high sustaining costs and capital expenditures on cash flow.
See More
Americas Gold and Silver FY 2025 Financial Report Analysis
- Earnings Miss: Americas Gold and Silver reported a FY 2025 non-GAAP EPS of -$0.13, missing expectations by $0.04, indicating ongoing challenges in profitability that may affect investor confidence.
- Adjusted EBITDA Loss: The adjusted EBITDA loss for 2025 reached $4.1 million ($0.02 per share), significantly higher than the $1.5 million loss ($0.01 per share) in 2024, reflecting rising operational costs and market pressures.
- Silver Production Increase: The company achieved consolidated silver production of approximately 2.65 million ounces in 2025, a 52% increase from 1.7 million ounces in 2024, indicating improved production capacity but necessitating close monitoring of cost control.
- Future Production Guidance: For 2026, the company projects silver production between 3.2 to 3.6 million ounces, with an average all-in sustaining cost of $30 to $35 per ounce, reflecting a cautiously optimistic outlook for future growth while remaining vigilant about cost fluctuations.
See More
