Americas Gold & Silver Reports Net Profit of $10 Million
Revenue rose to $67.8 million for the first quarter of 2026, driven by higher silver production and realized prices.
The mining exploration and production company Americas Gold & Silver Corporation (USAS) recorded a net profit of $10.0 million for the three months ended March 31, 2026. This follows a net loss of $19.7 million for the same period in 2025.
Revenue for the quarter rose to $67.8 million from $23.5 million in the prior-year period. The company said the $44.3 million increase was primarily due to higher silver production and realized prices at both the Galena Complex and Cosalá Operations. Specifically, the Galena Complex contributed $23.6 million in additional revenue, while the Cosalá Operations saw a $20.6 million increase.
At the Cosalá Operations, the revenue growth was partially offset by lower by-product revenue. The company attributed this to the cessation of zinc and lead production as mill feed shifted from the zinc-lead-silver San Rafael Main orebody to silver-copper EC120 production.
Cost of sales rose $3.2 million to $24.3 million for the quarter. The company attributed this increase to higher production tonnes, increased labor and contractor costs, and higher expenses for materials and supplies, with $2.2 million of the increase coming from the Galena Complex and $1.0 million from Cosalá Operations.
Other financial pressures included a $12.5 million loss on the fair value of metals contract liabilities, which was $2.7 million higher than the $9.8 million loss recorded in the first quarter of 2025. The company said this was mainly due to the impact of increased gold and silver forward prices.
Cash and cash equivalents ended the period at $122.4 million, compared to $129.8 million at the end of 2025. Net cash generated from operating activities was $21.9 million, a reversal from the $7.0 million used in the same period last year. The company used $22.8 million for expenditures on property, plant and equipment during the quarter.
The company is currently conducting technical review and optimization work at the Galena Complex to improve production efficiencies. Additionally, second phase test work confirmed the potential to extract over 99% of antimony from test copper flotation concentrate following a joint venture agreement with United States Antimony.