Jaguar Mining (TSX: JAG) released this morning its financial results for the third quarter ended September 30, 2021. The results highlighted a quarterly revenue of US$40.7 million, a decrease from Q3 2020’s revenue of US$43.5 million.
The firm said the decline in revenue is mainly due to a reduction in the average realized gold price: US$1,753 per ounce from US$1,896 per ounce for the same comparable period last year.
The company also produced a total of 22,603 gold ounces for the quarter, a drop from 24,094 gold ounces last year. However, the company has more gold sold this quarter with 23,247 gold ounces compared to 22,935 gold ounces last year.
Further down the financials, the mining firm earned US$11.4 million net income this quarter, down from last year’s US$16.5 million net income. This translates to US$0.16 earnings per share.
Calibrating for financial items, the adjusted EBITDA came in at US$19.2 million compared to US$27.2 million last year.
The mining firm also generated cash from operating activities amounting to US$16.4 million, also a decline from last year’s US$21.9 million. On the other hand, the free cash flow generated this quarter came in at US$9.8 million, down from US$14.9 million.
Jaguar Mining last traded at $4.43 on the TSX.
Information for this briefing was found via Sedar and Jaguar Mining. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.