Santacruz Silver Mining Ltd. stock rose 7% Monday as the company reported fourth-quarter 2025 production and global silver prices moved above $110 per ounce.
In Q4 2025 the miner produced 3.74 million silver equivalent ounces, a 9% increase from the prior quarter. Within that total, silver output reached 1.34 million ounces, up 8% from Q3 2025. Zinc production increased 10% to 23,846 tonnes and lead output rose 15% to 3,000 tonnes.
The quarter-over-quarter improvement was led by a recovery at the companys Bolívar mine, which delivered a 34% increase in silver equivalent production compared with Q3 2025. Bolívars rebound followed remediation efforts after a May 2025 flooding event that had limited access to higher-grade mining areas.
"During Q4 2025, Santacruz delivered a solid quarter-over-quarter improvement in consolidated production, led by a meaningful recovery at the Bolívar mine, and supported by strong performance at Caballo Blanco, Zimap E1n, and San Lucas, reflecting the strength and diversification of our multi-asset operating portfolio," said Arturo Pr E9stamo, Executive Chairman and CEO.
Despite the sequential gains in the fourth quarter, Santacruz's full-year 2025 production totaled 14.4 million silver equivalent ounces, an 11% decline compared with 2024. The company attributes the year-over-year drop primarily to the flooding impact at Bolívar.
Santacruz said it expects continued improvement in quarterly results as remediation progresses, and it anticipates full recovery from the affected Bolívar areas by Q4 2026.
The production report arrived as benchmark silver prices climbed above $110 per ounce, a development the companys shares appeared to benefit from as market sentiment improved on the news.
Context and market implications
The combination of higher commodity prices and sequential production gains provided a positive near-term catalyst for Santacruz's share performance. For investors and market participants focused on precious metals and mining equities, the quarter demonstrates how operational recoveries and metal-price moves can interact to influence company valuations.
Operational note - Recovery at a single, material asset such as Bolívar can materially affect consolidated output timing and magnitude. Santacruz's multi-asset footprint, including Caballo Blanco, Zimap E1n, and San Lucas, contributed to the quarter's improvement.