Welcome to our dedicated page for Coeur Mining news (Ticker: CDE), a resource for investors and traders seeking the latest updates and insights on Coeur Mining stock.
Coeur Mining, Inc. (NYSE: CDE) stands as the largest U.S.-based silver producer and a notable gold producer, employing around 2,100 people. The company operates five principal precious metals mines across the Americas, contributing significantly to the mining sector.
Coeur Mining's portfolio includes the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. These operations are fully owned and have been pivotal in cementing Coeur's reputation in the mining industry.
Additionally, Coeur Mining holds a non-operating interest in the Endeavor mine in Australia and enjoys royalties from the Cerro Bayo mine in Chile, the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand. This diversified portfolio ensures a steady stream of revenue and reduces dependency on a single operation.
Coeur Mining is also advancing two silver-gold feasibility stage projects: the La Preciosa project in Mexico and the Joaquin project in Argentina. These projects are set to enhance the company's production capabilities and strengthen its presence in the precious metals market.
The company's exploration activities span across Alaska, Argentina, Bolivia, Mexico, and Nevada, reflecting its commitment to discovering new resources and expanding its reserves. Furthermore, Coeur holds strategic investment positions in several silver and gold development companies, underscoring its forward-looking investment strategy.
Financially, Coeur Mining generates most of its revenue from the sale of gold and silver. The company's continuous investments in exploration, coupled with its diverse asset portfolio, position it as a resilient player in the precious metals industry.
Coeur Mining (NYSE: CDE) announced initial results from its 2024 exploration program at the Silvertip polymetallic project in British Columbia. The $12 million program, comprising 48 holes and over 68,000 feet of drilling, successfully doubled the Southern Silver Zone's strike length to over 2,000 meters.
Key achievements include: (1) extending the Southern Silver Zone by 1,150 feet and Saddle Zone by 280 feet along strike, (2) confirming mineralization up to 1,000 meters from the 2023 resource boundary through step-out drilling, and (3) identifying three new high-priority district targets through extensive geophysical surveys covering 37,000 hectares.
Notable drill results include intersections of up to 23.17 oz/t silver, 14.62% lead, and 12.32% zinc. The company secured an additional option from CMC Metals for 10,000 hectares adjacent to Silvertip.
Coeur Mining (NYSE: CDE) has announced its participation in two upcoming invitation-only investment conferences. Thomas S. Whelan, Senior Vice President and Chief Financial Officer, will attend the Bank of America Leveraged Finance Conference on December 3, 2024. The following day, Mitchell J. Krebs, Chairman, President and Chief Executive Officer, will participate in the Scotiabank Mining Conference. Presentation materials from both events will be accessible on Coeur's website at www.coeur.com.
Coeur Mining (NYSE: CDE) announced its participation in the upcoming RBC Capital Markets Precious Metals Conference in London. The company's Chairman, President and CEO, Mitchell J. Krebs, will attend this invitation-only investment event scheduled for Tuesday, November 12, 2024. Presentation materials from the conference will be accessible on Coeur's website at www.coeur.com.
Coeur Mining reported strong Q3 2024 results with net income of $49 million and revenue of $313 million. The company achieved significant production increases with gold production up 21% to 94,993 ounces and silver production up 15% to 3.0 million ounces. Operating cash flow reached $111 million, while free cash flow was $69 million. The Rochester operation showed improvement with 7.1 million tons placed under leach. The company announced plans to acquire SilverCrest in a $1.7 billion all-stock transaction expected to close in Q1 2025. Coeur reduced its revolving credit facility by $50 million to $225 million, improving its net debt to EBITDA ratio to below 2.0x.
Coeur Mining, Inc. (NYSE: CDE) has announced that it will release its third quarter 2024 operational and financial results after the New York Stock Exchange closes on Wednesday, November 6, 2024. The company will host a conference call on Thursday, November 7, 2024, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).
The call will be led by Mitchell J. Krebs, Chairman, President and CEO, joined by other key executives including Thomas S. Whelan (CFO), Michael Routledge (COO), and Aoife McGrath (SVP of Exploration). A replay of the call will be available through November 14, 2024.
Conference call details and replay numbers for U.S., Canada, and International participants are provided in the announcement.
Coeur Mining (NYSE: CDE) has announced its acquisition of SilverCrest Metals (TSX: SIL; NYSE American: SILV) to create a leading global silver company. The transaction, valued at approximately $1.7 billion, will see SilverCrest shareholders receive 1.6022 Coeur common shares for each SilverCrest share. This represents an 18% premium based on 20-day volume-weighted average prices.
Key highlights of the acquisition include:
- Creation of a leading global silver company with expected 2025 production of 21 million ounces of silver and 432,000 ounces of gold
- Addition of the high-grade, low-cost Las Chispas mine to Coeur's portfolio
- Expected generation of $700 million EBITDA and $350 million free cash flow in 2025
- Immediate 40% reduction in Coeur's leverage ratio upon closing
- Two SilverCrest directors, including CEO N. Eric Fier, to join Coeur's board
The transaction is expected to close in late Q1 2025, subject to shareholder and regulatory approvals.
Coeur Mining (NYSE: CDE) has announced the acquisition of SilverCrest Metals to create a leading global silver company. The transaction, valued at approximately $1.7 billion, will see SilverCrest shareholders receive 1.6022 Coeur common shares for each SilverCrest share. This represents an 18% premium based on 20-day volume-weighted average prices.
Key highlights of the acquisition include:
- Creation of a leading global silver company with expected 2025 production of 21 million ounces of silver and 432,000 ounces of gold
- Addition of the high-grade, low-cost Las Chispas mine to Coeur's portfolio
- Expected generation of $700 million EBITDA and $350 million free cash flow in 2025
- Immediate 40% reduction in Coeur's leverage ratio upon closing
- Addition of two SilverCrest directors to Coeur's board
The transaction is expected to close in late Q1 2025, subject to shareholder and regulatory approvals.
Coeur Mining (NYSE: CDE) has reported significant progress at its expanded Rochester silver-gold mine in Nevada. Key highlights include:
- Placement rates increased 39% in August to 2.7 million tons
- On track to place 7.0 – 8.0 million tons per quarter in H2 2024
- 2024 production guidance maintained at 4.8 – 6.6 million ounces of silver and 37,000 – 50,000 ounces of gold
- Particle size optimization efforts exceeding expectations, trending towards year-end target of 80% passing 5/8 inch
- Current average particle size distribution at 80% passing 3/4 inch
The company expects these improvements to be a key catalyst for generating positive free cash flow in H2 2024. Recent exploration success within the current mining footprint provides potential for higher-grade upside to the mine plan.
Coeur Mining (NYSE: CDE) has announced its participation in the Gold Forum Americas, an exclusive investment conference. The company's Chairman, President, and CEO, Mitchell J. Krebs, is scheduled to present on Monday, September 16, 2024, at 9:10 a.m. Mountain Time in Colorado Springs, Colorado.
This event provides Coeur Mining with a platform to showcase its operations and strategies to potential investors and industry professionals. The company has stated that presentation materials will be made available on their official website, www.coeur.com, allowing interested parties who cannot attend the conference to access the information.
Coeur Mining (NYSE: CDE) reported its second quarter 2024 financial results, with revenue hitting $222 million and a GAAP net income of $1 million. Adjusted EBITDA was $52 million, while the net loss from continuing operations stood at $3 million.
Key Achievements: The Rochester ramp-up hit throughput rates of over 88,000 tons/day. Both gold and silver production at Rochester rose by 39% QoQ. Average realized gold and silver prices increased by 11% and 10% respectively year-over-year.
Development Highlights: Exploration at Kensington is ongoing, targeting a reserve-based mine life of five years by year-end. The company completed the acquisition of concessions near Palmarejo for $25 million, unlocking significant potential. The hedging program concluded, leaving Coeur fully exposed to commodity prices going forward.
Despite strong performance in several areas, the company remains focused on improving cost management and achieving positive free cash flow in the latter half of 2024.
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