Coeur Q1 2020 Earnings Report
Key Takeaways
Coeur Mining reported first quarter 2020 financial results, including revenue of $173.2 million and a GAAP net loss from continuing operations of $11.9 million, or $0.05 per share. On an adjusted basis, the Company reported EBITDA of $46.6 million and net loss from continuing operations of $0.8 million, or $0.00 per share.
Gold sales represented a record high 74% of quarterly revenue, while Coeur’s three U.S. operations comprised 56% of quarterly revenue.
Palmarejo was the Company’s top performing operation, driven by a 10% increase in gold production quarter-over-quarter, generating $28.9 million in operating cash flow and $21.8 million of free cash flow.
Coeur processed 37,677 tons per day through the upgraded crusher configuration at Rochester during the first quarter, exceeding its target by 11% and was 33% higher than the prior quarter and received approval for planned expansion.
Coeur began its largest exploration program in Company history, drilling roughly 20% more footage than the prior period
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Coeur Revenue by Geographic Location
Forward Guidance
Coeur Mining looks forward to delivering on key objectives during the remainder of the year in a constructive gold price environment and to navigating the near-term uncertainty related to COVID-19 and remains enthusiastic about the opportunities it is pursuing to deliver high-return growth over the coming years for its stockholders.