07:38 AM EDT, 10/15/2024 (MT Newswires) -- Sierra Metals ( SMTSF ) on Tuesday said it produced 11 million pounds of copper in the third quarter, increasing from 9.5 million pounds in the same period a year ago.

"Given the good results of both of our mines and the successful ramp up of our operations, we expect to exceed our consolidated production guidance for 2024," CEO Ernesto Balarezo said.

Zinc production was steady at 11.2 million pounds while silver production rose to 504,00 ounces from 458,000 ounces.

Gold production climbed to 3,974 ounces from 3,651 ounces and lead production fell to 2.5 million pounds from 4.1 million pounds.

Sierra's share price dropped 1.2% last Friday to $0.82 on the TSX.