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First Majestic Silver loses $40.5M (U.S.) in 2019
2020-02-19 07:34 ET – News Release
Mr. Keith Neumeyer reports
FIRST MAJESTIC ANNOUNCES FINANCIAL RESULTS FOR Q4 AND YEAR END 2019
First Majestic Silver Corp. has provided its consolidated financial results for its fourth quarter and year ended Dec. 31, 2019. The full version of the financial statements and the management discussion and analysis can be viewed on the company’s website, on SEDAR and EDGAR. All amounts are in U.S. dollars unless stated otherwise.
2019 highlights
- Total production reached 25.6 million silver equivalent ounces, a 15-per-cent increase over 2018, reaching the top end of the company’s 2019 guidance range of 24.4 million to 26.0 million ounces.
- Silver production reached 13.2 million ounces of silver, a 13-per-cent increase over 2018, and in line with the company’s guidance range of 12.8 million to 13.5 million ounces.
- Generated record revenues of $363.9-million, representing a 21-per-cent increase from 2018.
- Generated a record $140.0-million of cash from operating activities.
- Mine operating earnings of $66.2-million compared with negative $11.9-million in 2018 primarily due to higher revenues, metal prices and lower cash costs.
- Operating cash flows before working capital and taxes of $108.9-million or 54 cents per share.
- Adjusted net earnings of $7.3-million, or four cents per share, after excluding non-cash and unusual items.
The last bullet is the one that matters.