New York, Jan 18, 2026, 07:38 EST — Market closed
- Silvercorp shares jumped 10.8% on Friday, topping the gains among U.S.-listed silver miners
- The company reported record quarterly revenue and scheduled full interim results for Feb. 9
- BMO bumped up its price target as traders watched silver’s wild swings closely
Silvercorp Metals shares surged 10.8% on Friday, closing at $11.31 following a flurry of company news and new broker insights late in the week. Hecla Mining and First Majestic Silver also saw gains, whereas Pan American Silver slipped slightly.
U.S. markets were closed Sunday, leaving Monday’s direction up in the air. Small and mid-cap miners have been volatile alongside bullion prices, with investors snapping up momentum plays whenever fresh headlines drop new figures.
Silvercorp’s latest catalyst came from its third-quarter fiscal 2026 production and sales update, showing unaudited revenue around $126.1 million—a 51% jump compared to last year. The company also announced plans to publish interim financial results on Feb. 9 after markets close. 1
That’s key since revenue has been carrying more weight than ounces these days. Investors are focused on whether stronger realized prices and an improved sales mix can make up for any slip in grades or throughput. The industry uses silver-equivalent output as shorthand—it converts gold into silver value based on realized prices, creating one production benchmark.
Analyst reaction came fast. BMO Capital’s Kevin O’Halloran bumped Silvercorp’s price target to C$17.50 from C$13, maintaining his Outperform rating, TheFly reported. 2
Metal prices remain largely overshadowed by broader market moves. Silver retreated Friday after hitting new highs earlier this week, yet inflows into silver-related products remain strong. “This isn’t just a meme-stock spike,” data provider Vanda noted in a report referenced by Investopedia. 3
Silvercorp’s upcoming report will put costs and cash flow under the spotlight. Investors want to see the all-in sustaining costs — a key industry metric combining operating expenses with the capital needed to maintain mining operations — and check if rising revenue translated into fatter margins.
There’s a familiar snag in mining here. Silvercorp’s quarter revealed year-on-year drops in certain metals. The company cited lower head grades and maintenance at an ore sorter as reasons for the weaker output in some areas. 4
Here’s the downside: if silver slips again, the leverage that boosted gains will cut the other way, hitting smaller producers with cost pressures quickly. And if there’s any sign that the revenue spike hasn’t turned into actual cash flow, it could kill the momentum rally just as fast.
As Monday’s session begins, investors will be closely watching if Friday’s close sticks and if other brokers join BMO in making revisions. The next major event comes on Feb. 9, when Silvercorp is set to release its interim financial results after the market closes.
