07:24 AM EST, 11/26/2024 (MT Newswires) -- Santacruz Silver Mining ( SCZMF ) which lost 5.3% yesterday, overnight Monday said it swung to a third-quarter profit on higher revenue.

The company reported third-quarter net earnings per share basic and diluted per share of $0.01 compared to a loss of $0.01 a year earlier. Revenue increased 21% to $78 million. Among other highlights, ebitda more than tripled to $16 million.

"In addition to our solid financial performance, we successfully maintained a stable All-In Sustaining Cost (AISC) and remain committed to disciplined cost optimization initiatives," Arturo Prestamo, executive chairman and CEO of Santacruz, said in a statement. "Furthermore, significant investments were made in underground equipment in Mexico to support the growth momentum achieved over the past quarters. This strategic focus not only strengthens our operational and financial stability but also positions us to create sustained long-term value for our shareholders."

Santacruz shares fell $0.015 to $0.27 yesterday.