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Jun 30, 2020
Coeur Q2 2020 Earnings Report
Coeur's financial performance was mixed, with revenue impacted by temporary mine suspensions and exploration investment increased.
Key Takeaways
Coeur Mining reported a second quarter 2020 revenue of $154.2 million, impacted by the temporary suspension at Palmarejo, but is anticipating a strong second half of 2020 with Palmarejo back in production and strong performance from U.S. operations.
Palmarejo mine was successfully restarted post-suspension.
Construction is prepared to begin on upcoming expansion at Rochester.
Kensington and Wharf had strong operating and financial results.
Coeur continued its aggressive investment in exploration.
Forward Guidance
Coeur Mining provided full-year 2020 production and cost guidance for its Palmarejo, Rochester, Kensington, and Wharf operations, assuming metal prices of $1,650/oz gold and $16.50/oz silver.
Positive Outlook
- Full-year 2020 gold production is expected to be 327,000 - 363,000 ounces.
- Full-year 2020 silver production is expected to be 9,500,000 - 11,500,000 ounces.
- Palmarejo's gold CAS is expected to be $785 - $885 per ounce.
- Rochester's gold CAS is expected to be $1,250 - $1,400 per ounce.
- Kensington's gold CAS is expected to be $900 - $1,000 per ounce.
Challenges Ahead
- Palmarejo's silver CAS is expected to be $9.50 - $10.50 per ounce.
- Rochester's silver CAS is expected to be $12.75 - $14.00 per ounce.
- Wharf's gold CAS is expected to be $950 - $1,000 per ounce.
- Capital expenditures for sustaining projects are expected to be $70 - $85 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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