Image source: © Embe2006 | Megapixl.com

Highlights

  • In Q3 2023, Jaguar Mining saw a 16.4% decline in its top-line business to USD 31.6 million, versus USD 37.8 million in Q3 2022.
  • The company posted a lower ernings before income taxes at USD 3.7 million in Q3 2023.
  • Jaguar Mining seured net income of USD 3.7 million, as compared to USD 6.4 million in the previous corresponding period.

A junior gold mining company, Jaguar Mining Inc. (TSX: JAG) is involved in the acquisition, exploration, development, and operation of gold-producing properties in the Iron Quadrangle, a prolific greenstone belt in Minas Gerais, Brazil. The company is operating two mines with a steady progress, assessing a new mining area (Faina), and a follow-up project (Pitangui) and advancing towards the next phase of growth.

In the preliminary fourth quarter of 2023, the company posted 6.7% surge in production, as compared to the third quarter of the year. Jaguar has concluded the last quarter with USD 20 million cash and no debt.

In Q3 2023, the company clocked an increase in its gold production from Turmalina mine on a sequential basis. The average realized gold price also soared in the third quarter against the previous corresponding period.

In Q3 2023, JAG saw a 16.4% decline in its top-line business to USD 31.6 million, versus USD 37.8 million in Q3 2022. This was primarily because of decrease in gold production as well as sale. Furthermore, its operating income lowered due to decline in gross profit and increased general and administrative expenditure. Also, the company posted a lower ernings before income taxes at USD 3.7 million in Q3 2023, following foreign exchange gain and other non operating income.

Overall, Jaguar Mining seured net income of USD 3.7 million, as compared to USD 6.4 million in the previous corresponding period.

For the second half of the fiscal year 2024, JAG is anticipating higher production levels as compared to 2023 levels, because of added contribution from Faina asset mine.

 

Top 10 Shareholders:

Approximately 63.93% of the total shareholding in the firm is held by its top ten shareholders. While 2176423 Ontario, Ltd. is the biggest shareholder with a maximum stake in the company at ­­44.74%, Sprott Asset Management LP is the second biggest shareholder with over 8.98% shareholding.

Stock Price Performance

JAG’s stock price has declined by over 4.18% over the last one week. It has grown by more than 3.9% in the past one month. The stock’s 52-week high and low price stand at CAD 2.93 and CAD 1.12, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is January 30, 2024. The reference data in this ,report has been partly sourced from EODHD/Others.