* Q1 EPS $0.03 vs $0.17 last year
* Q1 rev nearly doubles to $52.3 million
* Q1 silver production quadruples to 956,760 ounces
* Q1 gold production down about 5 pct to 17,812 ounces (Follows alerts)
May 4 (Reuters) - Canadian precious-metals explorer Minefinders Corp reported a dip in first-quarter profit and backed its full-year silver and gold production forecast.
The company expects to produce 65,000-70,000 ounces of gold and 3.3-3.5 million ounces of silver in 2011.
January-March net income was $2.3 million, or 3 cents a share, compared with $10.9 million, or 17 cents a share, a year ago. Revenue nearly doubled to $52.3 million.
Gold production fell to 17,812 ounces from 18,778 ounces a year ago. Gold volumes sold declined about 14 percent to 16,991 ounces.
Minefinders produced 956,760 ounces of silver in the quarter, up from 245,086 ounces a year ago.
Vancouver-based Minefinders’ shares closed at C$14.78 on Wednesday on the Toronto Stock Exchange. They have lost nearly 11 percent in value since touching a high of C$16.51 last month. (Reporting by Amruta Sabnis in Bangalore; Editing by Joyjeet Das)