Loading...
•
Sep 30, 2020
Coeur Q3 2020 Earnings Report
Achieved multi-year high financial results, driven by increased production and higher prices.
Key Takeaways
Coeur Mining reported strong Q3 2020 results with revenue of $229.7 million and net income of $26.9 million, driven by increased production and higher gold and silver prices. The company reduced total debt by $47.5 million and increased cash and cash equivalents by 9%.
Reported highest quarterly financial results in nearly a decade, with revenue up 49% and adjusted EBITDA more than doubled quarter-over-quarter.
Experienced strong quarter-over-quarter production growth, with gold production increased 23% to 95,995 ounces and silver production increased 58% to 2.6 million ounces.
Successfully commenced construction on schedule for Rochester expansion.
Bolstered balance sheet and financial flexibility by reducing total debt by $47.5 million and increasing cash and cash equivalents by 9%.
Forward Guidance
Coeur Mining provided updated full-year 2020 guidance, anticipating slightly higher gold production and solid cost controls.
Positive Outlook
- Full-year 2020 gold production is expected to be slightly higher at 100,000 - 110,000 ounces.
- CAS for gold are expected to be $650 - $750 per ounce.
- Capital expenditures are expected to be modestly lower at approximately $27 - $30 million.
- Full-year 2020 silver production is expected to be 6.0 - 7.0 million ounces.
- CAS for silver are anticipated to be $9.50 - $10.50 per ounce
Challenges Ahead
- Full-year 2020 silver production is anticipated to be modestly lower at 3.1 - 3.7 million ounces (Rochester).
- CAS for silver in 2020 are expected to be $13.50 - $14.75 per ounce (Rochester).
- Production in 2020 is expected to be slightly lower at 122,500 - 130,000 ounces of gold (Kensington).
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...