Coeur Q4 2019 Earnings Report
Key Takeaways
Coeur Mining, Inc. reported Q4 2019 revenue of $195.0 million and cash flow from operating activities of $39.3 million. The company's net loss was $270.9 million, or $1.13 per share, but adjusted EBITDA was $59.8 million with a net loss of $3.3 million, or $0.01 per share.
Revenue, operating cash flow and adjusted EBITDA increased 14%, 357% and 11%, respectively, in 2019.
Generated $18.4 million of free cash flow during the fourth quarter, representing a 63% increase compared to the prior period and a $36.1 million improvement compared to the fourth quarter of 2018.
Measured and indicated resources increased across all metals, and inferred gold, zinc and lead resources were higher year-over-year.
Ended the year with $295.5 million in total debt, compared to $458.8 million at the end of 2018.
Coeur
Coeur
Coeur Revenue by Geographic Location
Forward Guidance
Coeur Mining provided full-year 2020 production and cost guidance.
Positive Outlook
- Full-year 2020 Palmarejo production is expected to be 95,000 - 110,000 ounces of gold and 6.3 - 7.8 million ounces of silver
- Full-year 2020 Rochester production is expected to be 27,000 - 33,000 ounces of gold and 4.0 - 5.5 million ounces of silver
- Full-year 2020 Kensington production is expected to be 115,000 - 130,000 ounces of gold
- Full-year 2020 Wharf production is expected to be 80,000 - 90,000 ounces of gold
- 2020 Capital Expenditures, Sustaining $65 - $80 million
Challenges Ahead
- Full-year 2020 Palmarejo CAS are expected to be $785 - $885 per gold ounce and $10.35 - $11.35 per silver ounce
- Full-year 2020 Rochester CAS are expected to be $1,175 - $1,325 per gold ounce and $13.25 - $14.50 per silver ounce
- Full-year 2020 Kensington CAS are expected to be $900 - $1,000 per gold ounce
- Full-year 2020 Wharf CAS are expected to be $1,025 - $1,125 per gold ounce
- 2020 Capital Expenditures, Development $30 - $35 million