Sierra Metals announces restart to operations at Yauricocha Mine » 06:5109/2809/28/22
Sierra Metals reports…
Sierra Metals reports that an agreement has been reached with residents from the town of Alis following the blockade of the main access road to the Yauricocha Mine, operated by the company's subsidiary, Sociedad Minera Corona. Efforts to ensure critical safety and maintenance have been ongoing at the mine throughout the blockade. The safety and well-being of its employees and contractors remains of utmost importance to the company. Accordingly, safety inspections and reviews are underway to support a safe and progressive restart to the operations at Yauricocha Mine. Sierra Metals will continue to collaborate with the host communities in its area of influence, in order to promote their development, while supporting long-term, stable operations at the Yauricocha Mine. At this time, it is not clear when the mine will reach its pre-suspension production levels and as such, production and financial guidance will remain suspended.
|Over a week ago|
Sierra Metals reports on road blockage at its Yauricocha mine in Peru » 06:5409/2209/22/22
Sierra Metals reports…
Sierra Metals reports that a group of residents from the nearby town of Alis have illegally blocked the main access road to the Yauricocha Mine, operated by the company's subsidiary, Sociedad Minera Corona. Mine production continues to be suspended with activities limited to critical operations to ensure proper safety and maintenance. Sierra Metals is working towards a peaceful and expeditious resolution of the situation. Representatives from the company have taken part in dialogue with the members of the group, including requests organized by the Peruvian government. The company has involved the local authorities for their mediation and assistance in resolving this matter. Due to the uncertainty of timing on the resolution of this dispute and the potential delay in the progressive restart of production at the Mine, 2022 production and financial guidance has been suspended.
Sierra Metals announces incident at Yauricocha Mine » 16:3909/1209/12/22
Earlier this morning, the…
Earlier this morning, the company disclosed that "there was a mudslide incident at its underground Yauricocha Mine, located in Peru. As a result, three contractor employees lost their lives and one was injured. Mining operations have been temporarily suspended as a result and will resume once conditions are considered safe and appropriate. Local authorities have been notified and are conducting an investigation into the incident. The company will provide any updates as they become available."
Sierra Metals trading resumes 10:4509/1209/12/22
Sierra Metals trading halted, news pending 09:5209/1209/12/22
|Over a month ago|
Sierra Metals reports Q2 adjusted EBITDA $1.4M vs. $40.5M last year » 17:1008/1108/11/22
Reports Q2 revenue $49.9M…
Reports Q2 revenue $49.9M vs. $79.4M last year. Luis Marchese, CEO of Sierra Metals, commented, "Following a steady quarter, increased production and higher grades for all metals except lead at Yauricocha has helped boost consolidated copper equivalent payable pounds by 12% over the first quarter. At Bolivar, we are making progress in the turnaround program. While we reported higher throughput with improved grades, which provided for a 62% increase over the first quarter, delays in the process have resulted in a longer timeline for production ramp up than initially expected. The Mine has not reached the desired mine development and extraction for the quarter due to restricted space for operations, included limited ventilation related to delays on a new raise bore- in Bolivar NW. This has resulted in lower plant throughput and lower grades and consequently, lower copper equivalent production as well as higher cash costs than initially expected. At our Cusi Mine, we experienced a setback with unexpected underground flooding during the month of June, but it has since been resolved and we are proceeding with our plan to develop the mine to achieve a target rate of 1,100 tonnes per day."
|Over a quarter ago|
Sierra Metals price target lowered to C$1.75 from C$1.90 at CIBC » 11:4905/0405/04/22
CIBC analyst Bryce Adams…
CIBC analyst Bryce Adams lowered the firm's price target on Sierra Metals to C$1.75 from C$1.90 and keeps a Neutral rating on the shares.
Sierra Metals price target raised to C$2.15 from C$1.80 at Jefferies » 08:1103/0903/09/22
Jefferies analyst Christopher LaFemina raised the firm's price target on Sierra Metals to C$2.15 from C$1.80 and keeps a Hold rating on the shares. He has raised his price targets across the metals and mining group to reflect his increased conviction in the multi-year bull market in mining, arguing in a note titled "Welcome Back to the 1970s" that greater geopolitical risk will delay a supply response to high prices. A "re-rating is coming" and mining should outperform for the next five-plus years, LaFemina contends.
Cooperman's Omega added Mirion, Discovery and Gan in Q4 » 09:4902/1402/14/22
MIR, DISCA, GAN, VORB, BABA, PSFE, FB, NAVI, GM, VRT, LVS, LAD, ABR, PMT, EPD, OCN, BBDC, NRG, SMTS, COOP, GOOG, GOOGL, DVN, FISV, CI
Leon Cooperman's Omega Advisors disclosed in an SEC filing its holdings as of December 31, 2021. The fund made four new buys in the quarter: Mirion (MIR), Discovery (DISCA), Gan Limited (GAN) and Virgin Orbit (VORB). Omega exited 13 positions during the quarter, including by size of previous position Alibaba (BABA), Paysafe (PSFE), Meta Platforms (FB) and Navient (NAVI). The fund increased its stake in 17 holdings, including by size of previous position General Motors (GM), Vertiv Holdings (VRTV), Las Vegas Sands (LVS), Lithia & Driveway (LAD) and Arbor Realty (ABR). Omega reduced its stake in 10 holdings, including by size of previous position PennyMac Mortgage (PMT), Enterprise Products (EPD), Ocwen (OCN), Barings BDC (BBDC), NRG Energy (NRG) and Sierra Metals (SMTS). The fund's top holdings as of December 31, in order of size, were Mr Cooper (COOP), Alphabet (GOOGL), Devon Energy (DVN), Fiserv (FISV) and Cigna (CI).
Sierra Metals reports fatality at Bolivar mine in Mexico » 17:3201/1101/11/22
Sierra Metals "regrets to report a fatality as a result of an accident that occurred at the Company's Bolivar Mine, located in Chihuahua State, Mexico. The injured party was evacuated to medical facilities in Cuauhtemoc where the injured party was later pronounced deceased following medical complications. The incident occurred on January 10, 2022 at the underground mining operation of the Bolivar Mine. There were no other injuries related to the accident."