Why Silvercrest Mines (SVLC) Is Down Today

NEW YORK (TheStreet) -- Silvercrest Mines  (SVLC) declined 10.88% to $1.82 at 1:45 p.m. on Monday after the company reported fourth-quarter results that came up short of analysts' expectations.

The company reported fourth-quarter net loss of 4 cents a share, 8 cents off of the Capital IQ consensus estimate of earnings of 4 cents a share. Revenue also declined 26% year over year to $13.6 million, short of the consensus estimate of $14.2 million.

For the fiscal year 2014, the company said in a statement it plans to focus on continuing operations at its Santa Elena mine and to expand it with the construction of a new conventional mill facility, with initial underground production in 2014. The company also wants to evaluate and acquire properties near Santa Elena.

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TheStreet Ratings team rates SILVERCREST MINES INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SILVERCREST MINES INC (SVLC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."

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