11:33 AM EDT, 03/26/2024 (MT Newswires) -- Jaguar Mining Inc. ( JAGGF ) reported overnight Monday a fourth-quarter 2023 net income of US$10.7 million, or US$0.14 per share, down from US$11.5 million, or US$0.16 per share, in the year-ago quarter.

Revenue came in at US$35.9 million, down from US$36.1 million in the year-ago quarter. The decrease was driven by fewer ounces produced and sold, offset by higher realized gold prices.

Adjusted EBITDA was US$10.8 million, or US$0.14 per share, down from US$11.0 million, or US$0.15 per share, in the prior-year period.

Jaguar produced 18,482 ounces of gold in the fourth quarter of 2023, a decrease from 21,116 ounces of gold a year ago.

In 2024, the company expects production levels at the Turmalina and Pilar mines to be consistent with the fourth quarter of 2023. Faina is expected to contribute to production in the second half of the year, resulting in higher overall production from 2023 levels.

Jaguar at last look rose 5.3% in early Tuesday trading.

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