Americas Gold’s record silver output misses forecasts

AI desk brief

Americas Gold and Silver reported Q3 silver production of 800,458 oz, a record for the company and up 4.6% y/y, but still well below the 950,000 oz analyst consensus. Management reiterated 2026 guidance of 3.2-3.6 Moz at AISC of $30-$35/oz, while nine-month production totals 2.3 Moz; analysts said the company needs about 1.1 Moz in Q4, up 43% q/q, to hit the midpoint of guidance.

Sales outpaced production at 860,850 oz, with strong contributions from Cosalá in Mexico, where output rose 23% q/q to 415,879 oz as mining moved into higher-grade material. Galena in Idaho remained the weak spot amid ongoing infrastructure work and recovery from temporary Q2 interruptions; the stock slipped 0.4% in Toronto.