Gatos Silver
Logotype for Gatos Silver Inc

Gatos Silver (GASO) investor relations material

Gatos Silver has been acquired

Gatos Silver Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Gatos Silver Inc
Q3 2024 earnings summary12 Nov, 2024

Executive summary

  • Entered into a merger agreement with First Majestic, consolidating three major silver districts in Mexico; expected to close in Q1 2025, pending regulatory, shareholder, and other approvals.

  • Q3 2024 net income was $9.9M, up from $3.3M in Q3 2023; adjusted net income was $15.2M.

  • Earnings per share for Q3 2024 rose 200% to $0.14, with adjusted EPS at $0.22.

  • Updated life of mine plan extends mine life to October 2032 and increases silver equivalent production by 36%.

  • Record free cash flow and cash balance position the company strongly ahead of the merger.

Financial highlights

  • LGJV generated $58.2M in operating cash flow and $42.6M in free cash flow in Q3 2024, up 199% year-over-year.

  • Revenues rose 40% to $93.8M in Q3 2024, driven by higher metal prices and sales volumes.

  • LGJV net income for Q3 2024 was $25.7M, up from $15.1M in Q3 2023; EBITDA was $57.2M.

  • By-product AISC per ounce of silver was $9.61, down 35% year-over-year; co-product AISC was $16.13, down 9%.

  • Ended Q3 with $116.7M in cash; both the company and LGJV remain debt-free, with $50M available on credit facility.

Outlook and guidance

  • Raised 2024 silver production guidance to 9.2–9.7M oz (from 8.4–9.2M); silver equivalent production guidance to 14.7–15.5M oz.

  • By-product AISC guidance lowered to $8.50–$10.00/oz (from $9.50–$11.50/oz); co-product AISC guidance unchanged at $14.00–$16.00/oz.

  • Sustaining capital expenditure guidance at $45M and exploration/resource drilling at $18M for 2024.

  • Zinc, lead, and gold production expected near high end of original guidance.

Update on Mexican antitrust approval process
Detail plans to reach 3,500 tpd by mid-2025
Significance of Central Deeps exploration results
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Gatos Silver
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Gatos Silver Inc. (GATO) is a precious metals production and exploration company primarily focused on silver. The company's flagship asset is the Cerro Los Gatos mine within the Los Gatos District, located in the heart of Mexico's silver belt. Gatos Silver is engaged in the exploration, development, and production of silver, as well as zinc, lead, copper, and gold ores. The company is headquartered in Vancouver, British Columbia, and its shares are listed on the NYSE and TSX.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage