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Mar 31, 2025
Coeur Q1 2025 Earnings Report
Coeur Mining, Inc. reported a significant increase in revenue and net income for Q1 2025, driven by higher gold and silver sales and prices, and contributions from the SilverCrest acquisition.
Key Takeaways
Coeur Mining, Inc. achieved a strong start to 2025 with a substantial increase in revenue to $360.1 million and a net income of $33.4 million, or $0.06 per diluted share. This performance was primarily fueled by higher gold and silver ounces sold, increased average realized prices for both metals, and the strategic acquisition of Las Chispas. The company also significantly reduced its debt and strengthened its liquidity.
Revenue increased by 69% year-over-year to $360.1 million, driven by higher gold and silver sales volumes and prices.
Net income reached $33.4 million, a significant improvement from a net loss of $29.1 million in the prior year period.
Adjusted EBITDA more than tripled year-over-year to $148.9 million, reflecting strong operational performance.
The company reduced its debt by $85 million and increased its cash balance to $78 million, resulting in a net leverage ratio of 0.9x.
Forward Guidance
Coeur Mining, Inc. reaffirmed its 2025 guidance ranges, expecting increased gold and silver production driven by the Rochester ramp-up and the addition of Las Chispas. Overall cost guidance has slightly increased for Palmarejo, Kensington, and Wharf.
Positive Outlook
- Gold production is expected to increase by 20% compared to 2024, with a range of 380,000 - 440,000 ounces.
- Silver production is expected to increase by 62% compared to 2024, with a range of 16.7 - 20.25 million ounces.
- The Rochester operation is on track to achieve its 2025 guidance ranges of 7.0 - 8.3 million ounces of silver and 60,000 - 75,000 ounces of gold.
- Las Chispas is expected to contribute 42,500 - 52,500 ounces of gold and 4,250 - 5,250 thousand ounces of silver.
- The company anticipates continued exploration to extend mine lives at operating sites and further investment in the Silvertip project.
Challenges Ahead
- Overall cost guidance has slightly increased at Palmarejo, Kensington, and Wharf compared to 2024.
- Exploration expense guidance excludes $17 - $22 million of underground mine development and support costs associated with Silvertip.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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