Americas Gold and Silver Corp. (AMEX:USAS) stock fell Friday after the company reported its fiscal third-quarter 2026 financial results.
Q3 Revenue Misses Wall Street Estimates
Americas Gold and Silver reported an adjusted loss of 2 cents per share, compared with an adjusted loss of 6 cents per share a year earlier.
Revenue jumped 68% year over year to $51.4 million, but fell short of the $68.37 million consensus estimate.
The company reported a net loss of $5.6 million, narrowing from $16.5 million a year earlier.
Adjusted EBITDA rose to $9.3 million from $1.9 million, driven mainly by higher realized silver prices.
Record Silver Production Drives Growth
Silver production rose 5% year over year to a record 800,458 ounces. Chairman and CEO Paul Andre Huet said the milestone marked the highest quarterly silver production in the company’s 28-year history.
“In the 28-year history of this company, that has never been done,” Huet said during the earnings call.
The Cosalá operations produced 415,879 ounces, up 28%, supported by higher grades at the EC120 mine.
Huet highlighted exceptional silver discoveries at Cosalá, saying he had never encountered such a combination of mineralized widths and grades in more than 35 years of mining.
“In my 35-plus years of mining, I have never seen any widths followed by grades like this,” Huet said, describing the results as “world-class.”
He added that some newly discovered zones contain silver grades four to five times higher than previously modeled.
Silver-equivalent production reached 936,870 ounces, including lead, copper and antimony output.
Cash costs averaged $29.66 per silver ounce sold, while all-in sustaining costs (AISC) reached $42.94 per ounce.
The company ended September with $63.3 million in cash and $113 million in available liquidity.
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Production Outlook and Expansion Plans
Americas Gold and Silver expects full-year silver production near the lower end of its 3.2 million to 3.6 million-ounce forecast.
It also expects AISC near the upper end of its $30 to $35 per-ounce forecast.
Meanwhile, the company continues upgrading its Galena operations to improve efficiency and expand production capacity.
Improved hoisting capabilities have accelerated mine development to support future mining in silver-copper zones.
Management expects these improvements to support future production growth.
USAS Price Action: Americas Gold And Silver shares were down 6.99% at $2.59 at the time of publication on Friday, according to Benzinga Pro data.
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