Pan American Silver Corp. said Thursday it swung to a profit in the April through June quarter on higher metal prices.
Adjusted net income was $76.1 million, or 71 cents per share, compared to a loss in the year-earlier period of $5.59 million, or 4 cents per share.
Revenue for the quarter jumped 54 percent to $231.9 million.
The increase was directly attributable to significantly higher metal prices, partly offset by lower quantities sold of all metals produced by the Company, with the exception of lead, the company said. Compared to the same period last year, prices for silver and gold rose 107 percent and 26 percent, respectively.