Latest news with #CoeurMining
Yahoo
a day ago
- Business
- Yahoo
Coeur Mining (CDE) Soares to New High on Earnings Goldmine
We recently published . Coeur Mining Inc. (NYSE:CDE) is one of the best-performing stocks on Thursday. Shares of Coeur Mining rallied to a new record high on Thursday, extending a winning streak for a fourth consecutive day, after crushing the second quarter of the year with an impressive earnings performance. During the session, Coeur Mining Inc. (NYSE:CDE) touched its highest 52-week price of $11.31 before slight selling shed gains to end the day just up by 14.05 percent at $11.28. In an updated report, Coeur Mining Inc. (NYSE:CDE) saw its net income expand by 4,950 percent to $70.7 million from only $1.4 million in the same period last year. Consolidated revenues more than doubled to $480.7 million from $222 million in the same period last year, thanks to the 110 percent jump in gold sales and 132 percent from silver sales. 'Coeur's record second quarter reflects strong contributions from all five of our North American gold and silver operations, including the first full quarter from the recently acquired Las Chispas mine,' said Coeur Mining Inc. (NYSE:CDE) Chairman, President and CEO Mitchell J. Krebs. 'Looking ahead to the second half of the year, we expect even higher gold and silver production levels consistent with our reaffirmed 2025 production and cost guidance. We remain uniquely positioned to leverage higher gold and silver prices, which are expected to lead to over $800 million of full-year 2025 adjusted EBITDA and over $400 million of full-year 2025 free cash flow,' he added. While we acknowledge the potential of CDE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Coeur Mining Inc (CDE) Q2 2025 Earnings Call Highlights: Strong Cash Flow and Production Surge ...
Free Cash Flow: $146 million, leading to repayment of revolving credit facility and share repurchase program initiation. Adjusted EBITDA: Updated full-year expectation to over $800 million. Gold Production: 108,000 ounces, a 25% increase from the last quarter. Silver Production: 4.7 million ounces, a 27% increase from the last quarter. Adjusted Cash Costs: $1,260 per ounce for gold and $13.41 per ounce for silver, decreased by 5% and 6% respectively from the last quarter. Las Chispas Production: 1.5 million ounces of silver and 16,000 ounces of gold. Palmarejo Free Cash Flow: $42 million, with gold and silver production increases of 18% and 6% respectively. Rochester Production: Silver and gold production increased by 13% and 7% respectively from the prior quarter. Kensington Free Cash Flow: $20 million, with a 17% increase in gold production. Wharf Free Cash Flow: $38 million, with an 18% increase in gold production. Adjusted EBITDA Margin: 51%, more than double from the previous year. Adjusted Net Income: $127 million or $0.20 per share. Total Debt: Below $400 million, a decrease of nearly $250 million from the previous year. Cash and Cash Equivalents: Increased 44% to $112 million. Return of Capital Strategy: $75 million buyback program initiated. Warning! GuruFocus has detected 7 Warning Signs with CDE. Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Coeur Mining Inc (NYSE:CDE) achieved a free cash flow of $146 million, allowing for the repayment of the remaining balance on their revolving credit facility and funding initial share repurchases. The company updated its full-year expectations for adjusted EBITDA to over $800 million and free cash flow to more than $400 million, indicating strong financial performance. All five operations delivered strong production, cost, and financial performance, with significant contributions from Rochester and Las Chispas. The integration of Las Chispas has been nearly seamless, delivering high-grade production at very low cost, enhancing Coeur Mining Inc (NYSE:CDE)'s position as a global silver producer. Exploration efforts are yielding promising results, particularly at Las Chispas and Palmarejo, which are expected to add meaningfully to year-end resource calculations. Negative Points Despite strong financial performance, the company faces challenges with easing inflationary pressures and currency fluctuations, particularly the 8% appreciation of the Mexican peso. The accounting nuances related to the acquisition of SilverCrest, such as higher reported costs and amortization expenses, impact EPS but not free cash flow. The Silvertip project remains several years away from a go, no-go decision, indicating a longer timeline for potential development. The company anticipates some grade moderation at Wharf, which could impact future production levels. There are still significant exploration and permitting tasks required for the Silvertip project, which could delay its development timeline. Q & A Highlights Q: Given the current silver market, is there an opportunity to accelerate the development of the Silvertip project, and what would the timeline look like? A: Mitchell Krebs, CEO, explained that while there might be opportunities to expedite the Silvertip project, the company aims to ensure thoroughness and accuracy in its development. The initial assessment has begun, and while the five-year timeline might be shortened slightly, it remains a few years away from a go, no-go decision. Q: Beyond Silvertip, what are the biggest opportunities for production growth? A: Mitchell Krebs, CEO, highlighted the brownfield exploration potential around existing sites, such as Wharf, Palmarejo, Kensington, and Las Chispas. The company has significantly expanded its land positions, offering high-return, low-risk organic growth opportunities. Q: How should we think about taxes going forward, especially with the deferred taxes being a negative this quarter? A: Thomas Whelan, CFO, clarified that while Mexico will continue to pay quarterly installments, the U.S. operations benefit from significant net operating losses. The company is aggressively utilizing these losses, and for now, it's best to assume a 0% tax rate in the U.S. and standard rates in Mexico. Q: Regarding the share buyback program, how aggressive will Coeur Mining be in executing it? A: Mitchell Krebs, CEO, stated that the buyback program includes both discretionary and nondiscretionary components. The company plans to step up repurchase activity post-second-quarter results and intends to fully utilize the program. Q: What is the potential for production growth at Las Chispas, and what are the current constraints? A: Mitchell Krebs, CEO, and Aoife McGrath, SVP of Exploration, noted that the focus is on maintaining a consistent performance and replacing mined resources. The exploration results are promising, and there is potential for increased production, especially with the flexibility in the processing plant and stockpile management. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
National Post
3 days ago
- Business
- National Post
Coeur Reports Second Quarter 2025 Results
Article content 1 Article content Article content guidance reaffirmed Article content CHICAGO — Coeur Mining, Inc. ('Coeur' or the 'Company') (NYSE: CDE) today reported record second quarter 2025 financial results, including revenue of $481 million and cash flow from operating activities of $207 million. The Company reported record quarterly GAAP net income from continuing operations of $71 million, or $0.11 per share. On an adjusted basis 1, Coeur reported record quarterly EBITDA of $244 million, record cash flow from operating activities before changes in working capital of $162 million and record net income from continuing operations of $127 million, or $0.20 per share. Article content Key Highlights Article content Strong production and cost performance drove margin expansion – Each ofCoeur's five operations generated strong production increases and delivered positive free cash flow. Quarterly silver production of 4.7 million ounces was 27% higher quarter-over-quarter and 79% higher year-over-year. Gold production increased 25% quarter-over-quarter and 38% year-over-year to 108,487 ounces. Average realized prices for gold and silver increased 15% and 5% respectively, compared to the first quarter while costs applicable to sales per gold and silver ounce 1 declined by approximately 6% quarter-over-quarter Record quarterly financial results – Fourth consecutive quarter of positive free cash flow, which increased more than eightfold versus the prior quarter to a record $146 million. Adjusted EBITDA 1 increased 64% versus the prior quarter to a record $244 million, bringing the last twelve-month ('LTM') total to $635 million. Fifth consecutive quarter of net income, which totaled a record $71 million, or $0.11 per share Accelerated debt reduction initiative led to further balance sheet strengthening – The remaining $110 million balance on the revolving credit facility ('RCF') 2 was repaid during the quarter, quarter-end cash and equivalents increased to $112 million, and the net leverage ratio decreased to 0.4x at quarter-end Stock repurchase program authorized with initial activity in the quarter – On May 27, 2025, Coeur announced a $75 million share repurchase program. During the second quarter, the Company repurchased 216,500 shares at an average price of $9.24 per share Rochester crushed ore rates continued to increase – The newly-expanded Rochester silver and gold operation in Nevada crushed 6.7 million tons during the quarter, representing an increase of 24% compared to the previous quarter, reflecting steady increases in crushing circuit availability. Rochester silver and gold production increased 50% and 79%, respectively, compared to the second quarter of 2024 and remains on track to deliver on its full-year guidance ranges Reaffirming full-year production and cost guidance – Coeur remains positioned to deliver guided 2025 production of 380,000 – 440,000 ounces of gold and 16.7 – 20.3 million ounces of silver, which represent year-over-year expected increases of 20% and 62% for gold and silver, respectively 3. The Company also reaffirmed its full-year CAS 1 guidance Article content 'Coeur's record second quarter reflects strong contributions from all five of our North American gold and silver operations, including the first full quarter from the recently acquired Las Chispas mine,' said Mitchell J. Krebs, Chairman, President and Chief Executive Officer. 'Together with the benefit of higher gold and silver prices, we saw a step change in our financial results in the quarter, including an impressive $146 million of free cash flow, while we eliminated the remaining balance on our RCF 2 and began buying back shares.' Article content 'Looking ahead to the second half of the year, we expect even higher gold and silver production levels consistent with our re-affirmed 2025 production and cost guidance. We remain uniquely positioned to leverage higher gold and silver prices, which is expected to lead to over $800 million of full-year 2025 adjusted EBITDA and over $400 million of full-year 2025 free cash flow.' Article content Financial and Operating Highlights (Unaudited) Article content (Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Gold Sales $ 323.1 $ 235.3 $ 205.2 $ 223.8 $ 154.1 Silver Sales $ 157.5 $ 124.7 $ 100.2 $ 89.7 $ 67.9 Consolidated Revenue $ 480.7 $ 360.1 $ 305.4 $ 313.5 $ 222.0 Costs Applicable to Sales 4 $ 229.5 $ 204.3 $ 158.8 $ 156.7 $ 144.7 General and Administrative Expenses $ 13.3 $ 13.9 $ 11.1 $ 11.0 $ 11.2 Net Income (Loss) $ 70.7 $ 33.4 $ 37.9 $ 48.7 $ 1.4 Net Income (Loss) Per Share $ 0.11 $ 0.06 $ 0.08 $ 0.12 $ 0.00 Adjusted Net Income (Loss) 1 $ 127.4 $ 59.9 $ 45.3 $ 47.2 $ (3.4 ) Adjusted Net Income (Loss) 1 Per Share $ 0.20 $ 0.11 $ 0.11 $ 0.12 $ (0.01 ) Weighted Average Shares Outstanding 643.1 521.2 401.0 400.8 399.9 EBITDA 1 $ 203.0 $ 105.3 $ 104.6 $ 121.1 $ 49.7 Adjusted EBITDA 1 $ 243.5 $ 148.9 $ 116.4 $ 126.0 $ 52.4 Cash Flow from Operating Activities $ 207.0 $ 67.6 $ 63.8 $ 111.1 $ 15.2 Capital Expenditures $ 60.8 $ 50.0 $ 47.7 $ 42.0 $ 51.4 Free Cash Flow 1 $ 146.2 $ 17.6 $ 16.1 $ 69.1 $ (36.2 ) Cash, Equivalents & Short-Term Investments $ 111.6 $ 77.6 $ 55.1 $ 76.9 $ 74.1 Total Debt 5 $ 380.7 $ 498.3 $ 590.1 $ 605.2 $ 629.3 Average Realized Price Per Ounce – Gold $ 3,021 $ 2,635 $ 2,399 $ 2,309 $ 2,003 Average Realized Price Per Ounce – Silver $ 33.72 $ 32.05 $ 31.11 $ 29.86 $ 26.20 Gold Ounces Produced 108,487 86,766 87,149 94,993 78,696 Silver Ounces Produced 4.7 3.7 3.2 3.0 2.6 Gold Ounces Sold 106,948 89,316 85,555 96,913 76,932 Silver Ounces Sold 4.7 3.9 3.2 3.0 2.6 Adjusted CAS per AuOz 1 $ 1,260 $ 1,330 $ 1,192 $ 1,113 $ 1,264 Adjusted CAS per AgOz 1 $ 13.41 $ 14.28 $ 16.93 $ 15.67 $ 17.71 Article content Financial Results Article content Second quarter 2025 revenue totaled $481 million compared to $360 million in the prior period and $222 million in the second quarter of 2024. The Company produced 108,487 and 4.7 million ounces of gold and silver, respectively, during the quarter. Metal sales for the quarter totaled 106,948 ounces of gold and 4.7 million ounces of silver. Average realized gold and silver prices for the quarter were $3,021 and $33.72 per ounce, respectively, compared to $2,635 and $32.05 per ounce in the prior period and $2,003 and $26.20 per ounce in the second quarter of 2024. Article content Gold and silver sales represented 67% and 33% of quarterly revenue, respectively, compared to 65% and 35% in the prior period. The Company's U.S. operations accounted for approximately 55% of second quarter revenue compared to 57% in the first quarter of 2025, which included 45 days of production from Las Chispas following the closing of the SilverCrest transaction on February 14, 2025. Article content Adjusted costs applicable to sales per ounce 1 of gold and silver decreased 5% and 6% quarter-over-quarter, respectively, largely due to higher metal sales. General and administrative expenses decreased $1 million, or 4%, quarter-over-quarter to $13 million, driven by annual incentive payouts paid in the prior period. Article content Coeur invested approximately $30 million ($23 million expensed and $7 million capitalized) in exploration during the quarter, compared to approximately $22 million ($20 million expensed and $2 million capitalized) in the prior period. See the 'Operations' and 'Exploration' sections for additional detail on the Company's exploration activities. Article content The Company recorded income tax expense of approximately $63 million during the second quarter. Cash income and mining taxes paid during the period totaled approximately $38 million. Fluctuations in foreign exchange rates on deferred tax balances increased income and mining tax expense by $28.3 million and decreased income and mining tax expense by $0.2 million for the three months ended June 30, 2025 and March 31, 2025, respectively. The impact of foreign exchange rates on deferred tax balances is predominantly due to the Mexican Peso and deferred taxes resulting from Las Chispas purchase price accounting. Article content Quarterly operating cash flow totaled $207 million compared to $68 million in the prior period, mainly driven by stronger operating performance at each of the Company's five mines, as well as increased metal sales and higher average metals prices. Changes in working capital during the quarter were $45 million. Article content Second quarter capital expenditures were $61 million compared to $50 million in the prior period. Sustaining and development capital expenditures accounted for approximately $48 million and $13 million, or 79% and 21%, respectively, of Coeur's total capital investment during the quarter. Article content Las Chispas, Mexico Article content (Dollars in millions, except per ounce amounts) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Tons milled 118,399 59,368 — — — Average gold grade (oz/t) 0.150 0.130 — — — Average silver grade (oz/t) 13.32 12.71 — — — Average recovery rate – Au 93.8 % 94.8 % — % — % — % Average recovery rate – Ag 94.4 % 94.6 % — % — % — % Gold ounces produced 16,271 7,175 — — — Silver ounces produced (000's) 1,489 714 — — — Gold ounces sold 16,025 9,607 — — — Silver ounces sold (000's) 1,479 924 — — — Average realized price per gold ounce $ 3,315 $ 2,902 $ — $ — $ — Average realized price per silver ounce $ 33.48 $ 32.63 $ — $ — $ — Metal sales $ 102.7 $ 58.0 $ — $ — $ — Costs applicable to sales 4 $ 57.7 $ 42.8 $ — $ — $ — Adjusted CAS per AuOz 1 $ 894 $ 744 $ — $ — $ — Adjusted CAS per AgOz 1 $ 8.94 $ 8.38 $ — $ — $ — Exploration expense $ 3.3 $ 1.9 $ — $ — $ — Cash flow from operating activities $ 58.6 $ 97.1 $ — $ — $ — Sustaining capital expenditures (excludes capital lease payments) $ 9.2 $ 5.3 $ — $ — $ — Development capital expenditures $ — $ — $ — $ — $ — Total capital expenditures $ 9.2 $ 5.3 $ — $ — $ — Free cash flow 1 $ 49.4 $ 91.8 $ — $ — $ — Article content Operational Article content Second quarter gold and silver production totaled 16,271 ounces and 1,488,672 ounces, respectively, compared to 7,175 gold ounces and 714,239 silver ounces in the prior period, which included 45 days of production following the closing of the SilverCrest transaction on February 14, 2025 Production during the quarter benefited from higher average gold and silver grades Article content Financial Article content Adjusted CAS 1 for gold and silver on a co-product basis totaled $894 for gold and $8.94 for silver Gold and silver accounted for approximately 48% and 52%, respectively, of revenue during the quarter Free cash flow 1 in the second quarter totaled $49 million compared to $91.8 million in the prior period, which included the sale of held bullion and finished goods totaling $72 million Article content Exploration Article content Exploration investment in the second quarter totaled approximately $3 million (substantially all expensed) compared to $2 million (substantially all expensed) in the prior period Up to eight rigs were active during the quarter: five on surface and three underground. The primary focus was on the Babicanora and Las Chispas Blocks as well as the Gap Zone located between these two blocks On the Las Chispas Block and in the Gap Zone, the Augusta, William Tell Mini, North Las Chispas and La Sopresa veins delivered very favorable results and continued to expand. Notably, the high-grade Augusta discovery made earlier this year has now been traced over 320 meters along strike and 150 meters down dip, consistently yielding multi-kilo grade intercepts on a silver equivalent basis. In addition, the North Las Chispas Vein returned intercepts of significantly higher grade than previously encountered. These strong results support the potential for expansion of these resource zones and contribution towards year-end reserve and resource calculations In the Babicanora Block, infill drilling has been delivering excellent results, providing enhanced potential for upgrade of inferred resources In the third quarter, drilling is expected to continue on all veins detailed above and scout drilling is expected to commence on a number of targets across the district Article content Guidance Article content Prorated production reflecting 10.5 months is expected to be 42,500 – 52,500 ounces of gold and 4.25 – 5.25 million ounces of silver Prorated adjusted CAS 1 reflecting 10.5 months are expected to be $850 – $950 per gold ounce and $9.25 – $10.25 per silver ounce Prorated capital expenditures reflecting 10.5 months are expected to be $30 – $34 million, consisting primarily of sustaining capital Prorated exploration investment reflecting 10.5 months is expected to be $16 – $18 million (substantially all expensed) Article content Palmarejo, Mexico Article content (Dollars in millions, except per ounce amounts) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Tons milled 483,880 440,920 419,008 413,463 429,561 Average gold grade (oz/t) 0.060 0.050 0.059 0.070 0.066 Average silver grade (oz/t) 4.06 4.36 4.17 5.15 4.49 Average recovery rate – Au 92.9 % 95.2 % 91.2 % 94.8 % 89.9 % Average recovery rate – Ag 88.6 % 87.4 % 88.3 % 85.6 % 82.8 % Gold ounces produced 27,272 23,032 22,490 27,549 25,467 Silver ounces produced (000's) 1,741 1,680 1,543 1,823 1,596 Gold ounces sold 26,782 22,713 22,353 28,655 24,313 Silver ounces sold (000's) 1,720 1,636 1,598 1,861 1,542 Average realized price per gold ounce $ 2,093 $ 1,924 $ 1,750 $ 1,922 $ 1,744 Average realized price per silver ounce $ 33.76 $ 31.85 $ 31.27 $ 29.71 $ 26.48 Metal sales $ 114.1 $ 95.8 $ 89.1 $ 110.4 $ 83.2 Costs applicable to sales 4 $ 48.7 $ 43.7 $ 45.5 $ 47.5 $ 48.2 Adjusted CAS per AuOz 1 $ 888 $ 882 $ 894 $ 818 $ 1,006 Adjusted CAS per AgOz 1 $ 14.39 $ 14.37 $ 15.92 $ 12.60 $ 15.24 Exploration expense $ 4.0 $ 3.9 $ 3.8 $ 4.3 $ 2.6 Cash flow from operating activities $ 47.9 $ 8.7 $ 33.2 $ 55.6 $ 23.7 Sustaining capital expenditures (excludes capital lease payments) $ 3.6 $ 2.5 $ 6.5 $ 4.0 $ 3.1 Development capital expenditures $ 2.0 $ 3.4 $ 3.4 $ 4.0 $ 2.8 Total capital expenditures $ 5.6 $ 5.9 $ 9.9 $ 8.0 $ 5.9 Free cash flow 1 $ 42.3 $ 2.8 $ 23.3 $ 47.6 $ 17.8 Article content Operational Article content Second quarter gold and silver production totaled 27,272 and 1.7 million ounces, respectively, compared to 23,032 and 1.7 million ounces in the prior period and 25,467 and 1.6 million ounces in the second quarter of 2024 Production during the quarter benefited from higher average silver recoveries, higher average gold grade and higher tons milled, driven in part by greater contributions from Hidalgo development ore following the completion of the Hidalgo portal last year Article content Financial Article content Adjusted CAS 1 for gold and silver on a co-product basis decreased slightly quarter-over-quarter to $888 and $14.39 per ounce, respectively, driven by higher metal sales Capital expenditures totaled $6 million, which were flat compared to the prior period Free cash flow 1 in the second quarter increased to $42 million compared to $3 million in the prior period, driven by lower tax payments this quarter Article content Exploration Article content Exploration investment remained consistent quarter-over-quarter at approximately $4 million (substantially all expensed) The exploration program ramped up to eight rigs across the property during the second quarter Key areas of drilling activity included expansion of the mine trend to the northwest and the southeast. The northwestern portion of the mine trend, called the Hidalgo Corridor, includes the Hidalgo, Libertad and San Juan zones. Expansion drilling to the southeast of the mine trend involves validation drilling of the Independencia Sur block that was acquired from Fresnillo in 2024 and includes the Independencia Sur vein and other vein targets. Scout drilling also continued at Camuchin On the Hidalgo Corridor, drilling continues to deliver excellent results, outlining an additional 350 meters of strike length year to date. Drilling is extending the trend back towards the area that includes the original open pit, processing plant and the high-grade La Prieta system. Since its discovery in 2019, Hidalgo has become Palmarejo's second largest reserve after Guadalupe and is expected to expand further. Three rigs are expected to remain active in the Hidalgo Corridor through year-end At the Independencia Sur block, validation drilling is focused on the southeastern extension of mine corridor veins into this block, immediately adjacent to existing infrastructure and outside the area of interest of the Franco-Nevada gold stream agreement. Multiple veins, including Bruno and Independencia Sur, as well as potential new zones, have been intersected. As many as five rigs are expected to remain active in the Independencia Sur block through year-end At Camuchin, scout drilling has confirmed multiple veins spanning several kilometers. Ongoing geological work is aimed at refining targets, with highly encouraging results to date A follow-up program to the 2024 pilot high-resolution geophysical survey commenced during the quarter. This effort has significantly improved subsurface targeting and is driving faster, more cost-effective drilling campaigns Validation drilling also commenced on the Guazapares trend over the San Miguel deposit following the successful amendment to an agreement with the Guazapares Ejido in the first quarter Article content Other Article content Full-year 2025 production is expected to be 95,000 – 105,000 ounces of gold and 5.4 – 6.5 million ounces of silver Adjusted CAS 1 in 2025 are expected to be $950 – $1,150 per gold ounce and $17.00 – $18.00 per silver ounce Capital expenditures are expected to be $26 – $32 million, consisting primarily of sustaining capital and underground development Exploration investment in 2025 is expected to be $16 – $18 million (substantially all expensed) Article content Rochester, Nevada Article content (Dollars in millions, except per ounce amounts) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Ore tons placed 7,851,665 6,987,324 8,226,820 7,064,623 5,102,800 Average silver grade (oz/t) 0.60 0.59 0.44 0.57 0.59 Average gold grade (oz/t) 0.003 0.003 0.003 0.002 0.002 Silver ounces produced (000's) 1,456 1,284 1,551 1,155 973 Gold ounces produced 14,302 13,353 15,752 9,690 8,006 Silver ounces sold (000's) 1,438 1,282 1,571 1,098 985 Gold ounces sold 13,881 14,713 14,824 9,186 8,150 Average realized price per silver ounce $ 33.88 $ 31.86 $ 30.97 $ 30.13 $ 25.78 Average realized price per gold ounce $ 3,333 $ 2,840 $ 2,604 $ 2,492 $ 2,131 Metal sales $ 95.0 $ 82.6 $ 87.2 $ 56.0 $ 42.8 Costs applicable to sales 4 $ 47.9 $ 48.5 $ 51.5 $ 39.4 $ 36.7 Adjusted CAS per AgOz 1 $ 16.83 $ 18.41 $ 17.96 $ 20.88 $ 21.58 Adjusted CAS per AuOz 1 $ 1,675 $ 1,670 $ 1,495 $ 1,735 $ 1,813 Prepayment, working capital cash flow $ — $ (17.5 ) $ — $ — $ — Exploration expense $ 1.2 $ 1.5 $ 2.7 $ 1.0 $ 1.0 Cash flow from operating activities $ 39.6 $ (7.0 ) $ 26.0 $ 3.2 $ (5.9 ) Sustaining capital expenditures (excludes capital lease payments) $ 20.7 $ 8.5 $ 10.4 $ 7.0 $ 9.9 Development capital expenditures $ 3.8 $ 6.4 $ 3.5 $ 3.1 $ 17.6 Total capital expenditures $ 24.5 $ 14.9 $ 13.9 $ 10.1 $ 27.5 Free cash flow 1 $ 15.1 $ (21.9 ) $ 12.1 $ (6.9 ) $ (33.4 ) Article content Operational Article content Silver and gold production in the second quarter increased to 1.5 million and 14,302 ounces, respectively, compared to 1.3 million and 13,353 ounces in the prior period and 1.0 million and 8,006 ounces in the second quarter of 2024 Ore tons placed during the quarter totaled 7.9 million tons, consisting of approximately 6.7 million tons through the crushing circuit, up from 5.5 million tons in the prior quarter. Additionally, the Company placed approximately 1.1 million tons of direct to pad (DTP) material, down from 1.5 million tons of DTP material placed in the prior quarter Work progressed on the campaign to remove eight million tons from the legacy Stage I and Stage II leach pads to facilitate exploration drilling and future planned mining activities. Approximately 4.8 million tons have been removed year-to-date, with project completion expected in the third quarter of 2025 Article content Financial Article content Second quarter adjusted CAS 1 for silver and gold on a co-product basis totaled $16.83 and $1,675 per ounce, respectively, mainly driven by higher metal sales Capital expenditures increased on a quarter-over-quarter basis to $25 million compared to $15 million in the prior period, driven mainly by capitalized stripping to offload material from the legacy Stage I and II leach pads Free cash flow 1 in the second quarter totaled $15 million compared to $(22) million in the prior period Article content Exploration Article content Exploration investment in the second quarter totaled approximately $4 million ($1 million expensed and $3 million capitalized) compared to roughly $2 million ($2 million expensed and $1 million capitalized) in the prior quarter Up to two rigs were active during the quarter. Target areas included East Rochester, Lincoln Hill and the expected highly prospective corridor between Nevada Packard and Rochester A small diamond core drill program completed at East Rochester during the quarter successfully delineated the edges of the Wedge target and areas of colluvium in advance of a larger-scale drill campaign expected to begin in the fourth quarter of 2025, following the partial removal of legacy Stage I and Stage II leach pads A validation and expansion program at Lincoln Hill commenced during the quarter and is expected to continue through the third quarter of 2025 Ongoing geological modeling at Nevada Packard and Rochester is extending interpretations into the connecting corridor. Strong geophysical responses and historic workings support the presence of high-grade structures continuing between the pits. As a result, an initial scout drill program commenced during the quarter, with two holes already completed in the corridor Article content Guidance Article content Full-year 2025 production is expected to be 7.0 – 8.3 million ounces of silver and 60,000 – 75,000 ounces of gold Adjusted CAS 1 for 2025 are expected to be $14.50 – $16.50 per silver ounce and $1,250 – $1,450 per gold ounce Capital expenditures are expected to be $57 – $70 million, which reflects an eight-million-ton stripping campaign for the removal of Stage I and II legacy leach pads to access ore zones in the eastern portion of the open pit, modifications after startup of the crusher corridor and final negotiated payment with a key contractor of the expansion construction Exploration investment in 2025 is expected to be $13 – $16 million ($11 – $12 million expensed and $2 – $4 million capitalized) Article content Kensington, Alaska Article content (Dollars in millions, except per ounce amounts) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Tons milled 192,169 185,344 183,639 165,916 182,043 Average gold grade (oz/t) 0.15 0.13 0.16 0.16 0.14 Average recovery rate 91.8 % 93.3 % 91.8 % 90.4 % 92.3 % Gold ounces produced 26,555 22,715 26,931 24,104 23,202 Gold ounces sold 26,751 22,205 25,839 24,800 23,539 Average realized price per gold ounce, gross $ 3,410 $ 2,990 $ 2,702 $ 2,563 $ 2,223 Treatment and refining charges per gold ounce $ 56 $ 53 $ 53 $ 56 $ 52 Average realized price per gold ounce, net $ 3,354 $ 2,937 $ 2,649 $ 2,507 $ 2,171 Metal sales $ 89.8 $ 65.2 $ 68.3 $ 62.2 $ 51.1 Costs applicable to sales 4 $ 46.1 $ 42.2 $ 39.7 $ 38.1 $ 40.7 Adjusted CAS per AuOz 1 $ 1,713 $ 1,882 $ 1,529 $ 1,539 $ 1,734 Prepayment, working capital cash flow $ — $ (12.1 ) $ (12.9 ) $ 11.8 $ (11.8 ) Exploration expense $ 1.5 $ 3.3 $ 0.7 $ 2.0 $ 1.3 Cash flow from operating activities $ 36.0 $ 5.9 $ 8.5 $ 38.1 $ (7.2 ) Sustaining capital expenditures (excludes capital lease payments) $ 12.3 $ 15.2 $ 18.9 $ 20.0 $ 16.5 Development capital expenditures $ 4.0 $ 0.3 $ — $ — $ — Total capital expenditures $ 16.3 $ 15.5 $ 18.9 $ 20.0 $ 16.5 Free cash flow 1 $ 19.7 $ (9.6 ) $ (10.4 ) $ 18.1 $ (23.7 ) Article content Operational Article content Gold production in the second quarter increased to 26,555 ounces compared to 22,715 ounces in the prior period and 23,202 ounces in the second quarter of 2024 Stronger production during the quarter was driven by higher tons milled and higher average gold grade offset by lower recoveries Article content Financial Article content Second quarter adjusted CAS 1 decreased to $1,713 per ounce compared to $1,882 per ounce in the prior period, due primarily to increased metal sales Capital expenditures increased 5% quarter-over-quarter to $16 million. The second quarter marked the end of the multi-year underground mine development program at Kensington Free cash flow 1 in the second quarter increased to $20 million, reflecting increased metals sales Article content Exploration Article content Exploration investment in the second quarter totaled approximately $5 million ($2 million expensed and $3 million capitalized), compared to $5 million ($3 million expensed and $2 million capitalized) in the prior period Drilling at Kensington is progressing exceptionally well, with drill footage targets achieved ahead of schedule and under budget during the quarter. Drill targets include Elmira, Upper and Lower Kensington and Johnson At Elmira and Elmira South, second quarter drilling was focused primarily on infill work. Notably, the newly-discovered Elmira Hanging Wall Zone first identified in 2024 returned several high-grade intercepts and is expected to be included in the year-end 2025 resource estimates for the first time In Upper Kensington, both expansion and infill drilling at Zones 30 and 30B continue to return high-grade intercepts. Additionally, expansion drilling in Zone 10 (Lower Kensington) is extending the mineralization up-dip into Upper Kensington Following very strong results from initial test drilling at the Johnson target in 2024, an increased budget of $1.6 million was approved during the quarter. Drilling is ongoing, and this area is also expected to contribute to year-end reserve and resource estimates Due to excellent progress across the Kensington programs this year, the number of active drill rigs will be reduced in the second half. During the summer, one rig is expected to be dedicated to scout drilling on a new target called Ivanhoe and Hope, located approximately 1.2 miles northwest of the Kensington mine workings Article content Guidance Article content Full-year 2025 production is expected to be 92,500 – 107,500 gold ounces Adjusted CAS 1 in 2025 are expected to be $1,700 – $1,900 per gold ounce Capital expenditures are expected to be $55 – $64 million, which reflects the completion of the multi-year development and exploration program in the first half of the year as well as an $18 – $22 million investment to raise the main tailings storage facility embankment as part of the expansion of the existing facility, which is expected to be executed over the next two years Exploration investment in 2025 is expected to be $11 – $14 million ($6 – $8 million expensed and $5 – $6 million capitalized) Article content Wharf, South Dakota Article content (Dollars in millions, except per ounce amounts) 2Q 2025 1Q 2025 4Q 2024 3Q2024 2Q 2024 Ore tons placed 1,105,605 1,033,699 1,164,894 1,424,649 1,162,437 Average gold grade (oz/t) 0.035 0.020 0.023 0.046 0.032 Gold ounces produced 24,087 20,491 21,976 33,650 22,021 Silver ounces produced (000's) 36 51 54 42 69 Gold ounces sold 23,509 20,078 22,539 34,272 20,930 Silver ounces sold (000's) 35 50 54 45 65 Average realized price per gold ounce $ 3,315 $ 2,827 $ 2,620 $ 2,440 $ 2,064 Metal sales $ 79.1 $ 58.4 $ 60.7 $ 85.0 $ 45.0 Costs applicable to sales 4 $ 29.0 $ 27.0 $ 22.1 $ 31.8 $ 19.1 Adjusted CAS per AuOz 1 $ 1,175 $ 1,260 $ 902 $ 885 $ 822 Prepayment, working capital cash flow $ — $ (12.5 ) $ — $ — $ — Exploration expense $ 3.5 $ 2.6 $ 2.7 $ 2.3 $ 1.1 Cash flow from operating activities $ 41.4 $ 15.7 $ 22.2 $ 51.6 $ 17.0 Sustaining capital expenditures (excludes capital lease payments) $ 2.3 $ 6.4 $ 2.9 $ 2.8 $ 1.2 Development capital expenditures $ 1.3 $ 1.0 $ — $ — $ — Total capital expenditures $ 3.6 $ 7.4 $ 2.9 $ 2.8 $ 1.2 Free cash flow 1 $ 37.8 $ 8.3 $ 19.3 $ 48.8 $ 15.8 Article content Operational Article content Gold production in the second quarter increased 18% quarter-over-quarter to 24,087 ounces, driven by higher gold grades Article content Financial Article content Adjusted CAS 1 on a by-product basis decreased 7% quarter-over-quarter to $1,175 per ounce, due primarily to higher gold sales Capital expenditures totaled approximately $4 million compared to $7 million in the prior period Free cash flow 1 in the second quarter increased to $38 million compared to $8 million in the prior period Article content Exploration Article content Exploration investment during the second quarter totaled $4 million (substantially all expensed), compared to $3 million (substantially all expensed) in the prior quarter Expansion and infill drilling programs at Wedge and North Foley were completed during the quarter. All remaining 2025 drilling is expected to focus on infill work at Juno Results from both Wedge and North Foley met expectations, and these zones are expected to contribute meaningfully to year-end reserve and resource estimates Exploration priorities in the third quarter include infill drilling at Juno, following up on 2024 expansion drilling, which extended mineralization approximately 500 feet to the northwest Article content Guidance Article content Full-year 2025 production is expected to be 90,000 – 100,000 gold ounces and 50,000 – 200,000 ounces of silver Adjusted CAS 1 in 2025 are expected to be $1,250 – $1,350 per gold ounce Capital expenditures are expected to be $13 – $17 million, which reflects increased infill drilling expected to materially extend the mine life as well as other investments which are expected to be required to convert the Juno and North Foley deposits into reserves Exploration investment in 2025 is expected to be $7 – $10 million (substantially all expensed) Article content Exploration Article content The Company's exploration investment in 2025 is expected to total $67 – $77 million for expansion drilling (classified as exploration expense) and $10 – $16 million for infill drilling (capitalized exploration) for a total expected investment of $77 – $93 million. Article content Top exploration priorities for 2025 are: (1) continuing to build the inferred pipeline at Palmarejo to provide optionality to the operation, including to the East of existing operations, where 60% of this year's exploration investment is budgeted; (2) outlining higher-grade structures to enhance the near-term margin and longer-term free cash flow profile of Rochester; (3) maintaining a 5-year reserve-based mine life at Kensington while finding higher-grade zones to bolster cash flow; (4) completing the expansion and infill programs at Wharf to add to the life of mine; (5) building on the new geological model and understanding at Silvertip to grow the resource base, and; (6) rapidly building detailed knowledge of Las Chispas and maintaining mine life. Article content During the second quarter, Coeur invested approximately $30 million ($23 million expensed and $7 million capitalized), compared to roughly $22 million ($20 million expensed and $2 million capitalized) in the prior period. Article content At Silvertip, exploration investment totaled approximately $9 million in the second quarter, compared to $6 million in the prior period. Following completion of the geological model in the first quarter of 2025, exploration drilling commenced in May. During the second quarter, drilling at Silvertip focused on three targets; Southern Silver, Discovery, and Saddle Zones, using one underground rig and three surface rigs. Alongside drilling, final preparations and planning were completed for the summer surface exploration program, which includes geological mapping, rock chip sampling, and stream and soil geochemical surveys. Article content 2025 Guidance Article content The Company has reaffirmed its 2025 production and costs applicable to sales guidance ranges as shown below. Regarding 2025 capital guidance (which excludes capital leases), the Company has elected to fund $10 million of sustaining capital with cash versus previously planned capital leases due to the overall improved financial position of the Company. Due to the Company's strong share price performance in 2025, the Company has increased its 2025 G&A expense guidance to reflect the non-cash increase in incentive compensation related to expected performance share expense. The exploration expense guidance below excludes $17 – $22 million of underground mine development and support costs associated with Silvertip. Article content Note that Las Chispas guidance reflects results from the February 14, 2025 closing of the acquisition. Additionally, Las Chispas cost guidance excludes the effects of the SilverCrest purchase price allocation. Article content 2025 Adjusted Costs Applicable to Sales Guidance Article content 2025 Capital, Exploration and G&A Guidance Article content Note: The Company's guidance figures assume estimated prices of $2,700/oz gold and $30.00/oz silver as well as CAD of 1.425 and MXN of 20.50. Guidance figures exclude the impact of any metal sales or foreign exchange hedges. Article content Financial Results and Conference Call Article content Coeur will host a conference call to discuss its second quarter 2025 financial results on August 7, 2025 at 11:00 a.m. Eastern Time. Article content Hosting the call will be Mitchell J. Krebs, Chairman, President and Chief Executive Officer of Coeur, who will be joined by Thomas S. Whelan, Senior Vice President and Chief Financial Officer, Michael 'Mick' Routledge, Senior Vice President and Chief Operating Officer, Aoife McGrath, Senior Vice President, Exploration, and other members of management. A replay of the call will be available through August 14, 2025. Article content About Coeur Article content Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Las Chispas silver-gold mine in Sonora, Mexico, the Palmarejo gold-silver complex in Chihuahua, Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota. In addition, the Company wholly-owns the Silvertip polymetallic critical minerals exploration project in British Columbia. Article content Cautionary Statements Article content This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding cash flow, production growth, costs, capital expenditures, exploration and development efforts and plans and potential impacts on reserves and resources, mine lives and expected extensions, the gold stream agreement at Palmarejo, anticipated production, and costs and expenses and operations at Las Chispas, Palmarejo, Rochester, Kensington and Wharf. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that anticipated production, cost and expense levels are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing and expanding large-scale mining projects, environmental hazards, industrial accidents, weather or geologically-related conditions), changes in the market prices of gold and silver and a sustained lower price or higher treatment and refining charge environment, the uncertainties inherent in Coeur's production, exploration and development activities, including risks relating to permitting and regulatory delays (including the impact of government shutdowns) and mining law changes, ground conditions, grade and recovery variability, any future labor disputes or work stoppages (involving the Company and its subsidiaries or third parties), the risk of adverse outcomes in litigation, the uncertainties inherent in the estimation of mineral reserves and resources, impacts from Coeur's future acquisition of new mining properties or businesses, risks associated with the continued integration of the recent acquisition of SilverCrest, the risk that the Rochester expansion does not sustain planned performance, the loss of access or insolvency of any third-party refiner or smelter to whom Coeur markets its production, materials and equipment availability, inflationary pressures, impacts from tariffs or other trade barriers, continued access to financing sources, the effects of environmental and other governmental regulations and government shut-downs, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities. This does not constitute an offer of any securities for sale. Article content The scientific and technical information concerning our mineral projects in this news release have been reviewed and approved by a 'qualified person' under Item 1300 of SEC Regulation S-K, namely our Vice President, Technical Services, Christopher Pascoe. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and mineral resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant factors, please review the Technical Report Summaries for each of the Company's material properties which are available at Article content Non-U.S. GAAP Measures Article content We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non-U.S. GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss), operating cash flow before changes in working capital and adjusted costs applicable to sales per ounce. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss) and adjusted costs applicable to sales per ounce are important measures in assessing the Company's overall financial performance. For additional explanation regarding our use of non-U.S. GAAP financial measures, please refer to our Form 10-K for the year ended December 31, 2024. Article content EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted net income (loss), operating cash flow before changes in working capital and adjusted costs applicable to sales per ounce (gold and silver) are non-GAAP measures. Please see tables in the Appendix for the reconciliation to U.S. GAAP. Free cash flow is defined as cash flow from operating activities less capital expenditures. Liquidity is defined as cash and cash equivalents plus availability under the Company's RCF. Future borrowing under the RCF may be subject to certain financial covenants. Please see tables in Appendix for the calculation of consolidated free cash flow and liquidity. As of June 30, 2025, Coeur had no outstanding borrowings and $20.2 million in outstanding letters of credit under its RCF. Future borrowing under the RCF may be subject to certain financial covenants. Percentage based on the midpoint of 2025 guidance ranges. Excludes amortization. Includes capital leases. Net of debt issuance costs and premium received. Article content COEUR MINING, INC. AND SUBSIDIARIES June 30, 2025 December 31, 2024 ASSETS In thousands, except share data CURRENT ASSETS Cash and cash equivalents $ 111,646 $ 55,087 Receivables 60,640 29,930 Inventory 201,679 78,617 Ore on leach pads 129,469 92,724 Prepaid expenses and other 22,875 16,741 526,309 273,099 NON-CURRENT ASSETS Property, plant and equipment and mining properties, net 2,794,687 1,817,616 Goodwill 613,355 — Ore on leach pads 102,078 106,670 Restricted assets 9,381 8,512 Receivables 14,447 19,583 Other 90,693 76,267 TOTAL ASSETS $ 4,150,950 $ 2,301,747 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 141,511 $ 125,877 Accrued liabilities and other 139,145 156,609 Debt 29,889 31,380 Reclamation 17,129 16,954 327,674 330,820 Debt 350,833 558,678 Reclamation 257,903 243,538 Deferred tax liabilities 326,223 7,258 Other long-term liabilities 59,930 38,201 994,889 847,675 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY Common stock, par value $0.01 per share; authorized 900,000,000 shares, 642,701,753 issued and outstanding at June 30, 2025 and 399,235,632 at December 31, 2024 6,426 3,992 Additional paid-in capital 5,780,143 4,181,521 2,828,387 1,123,252 Article content Three Months Ended June 30, Six Months Ended June 30, In thousands, except share data Revenue $ 480,650 $ 222,026 $ 840,712 $ 435,086 COSTS AND EXPENSES Costs applicable to sales (1) 229,454 144,717 433,720 290,714 Amortization 61,421 27,928 104,514 55,225 General and administrative 13,250 11,241 27,162 25,645 Exploration 23,256 12,874 42,938 23,365 Pre-development, reclamation, and other 13,161 8,590 30,114 26,818 Total costs and expenses 340,542 205,350 638,448 421,767 Income or loss from operations 140,108 16,676 202,264 13,319 OTHER INCOME (EXPENSE), NET Gain (loss) on debt extinguishment — (21 ) — 417 Fair value adjustments, net 4 — (342 ) — Interest expense, net of capitalized interest (8,251 ) (13,162 ) (18,701 ) (26,109 ) Other, net 1,460 5,122 1,866 7,895 Total other income (expense), net (6,787 ) (8,061 ) (17,177 ) (17,797 ) Income (loss) before income and mining taxes 133,321 8,615 185,087 (4,478 ) Income and mining tax (expense) benefit (62,595 ) (7,189 ) (81,008 ) (23,213 ) NET INCOME (LOSS) $ 70,726 $ 1,426 $ 104,079 $ (27,691 ) OTHER COMPREHENSIVE INCOME (LOSS): Change in fair value of derivative contracts designated as cash flow hedges — (10,881 ) — (18,507 ) Reclassification adjustments for realized (gain) loss on cash flow hedges — 17,028 — 17,176 Other comprehensive income (loss) — 6,147 — (1,331 ) COMPREHENSIVE INCOME (LOSS) $ 70,726 $ 7,573 $ 104,079 $ (29,022 ) NET INCOME (LOSS) PER SHARE Basic income (loss) per share: (1) Excludes amortization. Article content Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 In thousands CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 70,726 $ 1,426 $ 104,079 $ (27,691 ) Adjustments: Amortization 61,421 27,928 104,514 55,225 Accretion 4,900 4,154 9,632 8,230 Deferred taxes (12,204 ) (9,217 ) (29,557 ) (4,788 ) Gain on debt extinguishment — 21 — (417 ) Fair value adjustments, net (4 ) — 342 — Stock-based compensation 4,217 2,732 7,515 6,980 Write-downs — — — 3,235 Deferred revenue recognition (192 ) (118 ) (42,508 ) (55,277 ) Acquired inventory purchase price allocation 29,680 — 56,720 — Other 3,029 556 4,552 11,378 Changes in operating assets and liabilities: Receivables (4,766 ) 3,180 (821 ) (2,136 ) Prepaid expenses and other current assets 2,424 4,176 84,489 3,537 Inventory and ore on leach pads (14,125 ) (19,774 ) (22,473 ) (39,468 ) Accounts payable and accrued liabilities 61,845 185 (1,898 ) 40,570 CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 206,951 15,249 274,586 (622 ) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (60,807 ) (51,405 ) (110,809 ) (93,488 ) Acquisitions, net 239 — 103,635 — Proceeds from the sale of assets 80 — 80 24 Other (85 ) (148 ) (175 ) (215 ) CASH USED IN INVESTING ACTIVITIES (60,573 ) (51,553 ) (7,269 ) (93,679 ) CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of common stock 9,147 — 9,449 22,823 Issuance of notes and bank borrowings, net of issuance costs 47,000 115,000 146,500 250,000 Payments on debt, finance leases, and associated costs (164,731 ) (71,653 ) (356,965 ) (163,878 ) Share repurchases (2,004 ) — (2,004 ) — Other financing activities (2,184 ) (31 ) (7,905 ) (1,810 ) CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (112,772 ) 43,316 (210,925 ) 107,135 Effect of exchange rate changes on cash and cash equivalents 496 (361 ) 204 (321 ) INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 34,102 6,651 56,596 12,513 Cash, cash equivalents and restricted cash at beginning of period 79,368 69,240 56,874 63,378 Cash, cash equivalents and restricted cash at end of period $ 113,470 $ 75,891 $ 113,470 $ 75,891 Article content Adjusted EBITDA Reconciliation (Dollars in thousands except per share amounts) LTM 2Q 2025 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Net income (loss) $ 190,670 $ 70,726 $ 33,353 $ 37,852 $ 48,739 $ 1,426 Interest expense, net of capitalized interest 43,868 8,251 10,450 11,887 13,280 13,162 Income tax provision (benefit) 125,245 62,595 18,413 18,420 25,817 7,189 Amortization 174,263 61,421 43,093 36,533 33,216 27,928 EBITDA 534,046 202,993 105,309 104,692 121,052 49,705 Fair value adjustments, net 342 (4 ) 346 — — — Foreign exchange (gain) loss (2,517 ) (246 ) 758 (1,321 ) (1,708 ) (2,089 ) Asset retirement obligation accretion 18,180 4,900 4,732 4,315 4,233 4,154 Inventory adjustments and write-downs 6,309 1,598 1,928 1,552 1,231 1,071 (Gain) loss on sale of assets 377 117 186 (102 ) 176 640 RMC bankruptcy distribution (132 ) (37 ) — (95 ) — (1,199 ) (Gain) loss on debt extinguishment — — — — — 21 Transaction costs 20,227 2,823 8,887 7,541 976 — Kensington royalty settlement (67 ) 28 (95 ) — — 419 Mexico arbitration matter 3,629 1,740 410 152 1,327 1,138 Flow-through share premium (2,313 ) (112 ) (585 ) (369 ) (1,247 ) (1,456 ) COVID-19 1 — — — 1 3 Acquired inventory purchase price 56,721 29,681 27,040 — — — Adjusted EBITDA $ 634,803 $ 243,481 $ 148,916 $ 116,365 $ 126,041 $ 52,407 Adjusted EBITDA Margin 43 % 51 % 41 % 38 % 40 % 24 % Article content Adjusted Net Income (Loss) Reconciliation (Dollars in thousands except per share amounts) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 2Q 2024 Net income (loss) $ 70,726 $ 33,353 $ 37,852 $ 48,739 $ 1,426 Fair value adjustments, net (4 ) 346 — — — Foreign exchange loss (gain) (1) 28,072 574 265 (2,247 ) (2,950 ) (Gain) loss on sale of assets 117 186 (102 ) 176 640 RMC bankruptcy distribution (37 ) — (95 ) — (1,199 ) (Gain) loss on debt extinguishment — — — — 21 Transaction costs 2,823 8,887 7,541 976 — Kensington royalty settlement 28 (95 ) — — 419 Mexico arbitration matter 1,740 410 152 1,327 1,138 Flow-through share premium (112 ) (585 ) (369 ) (1,247 ) (1,456 ) COVID-19 — — — 1 3 Acquired inventory purchase price 29,681 27,040 — — — Tax effect of adjustments (5,633 ) (10,230 ) 142 (568 ) (1,447 ) Adjusted net income (loss) $ 127,401 $ 59,886 $ 45,386 $ 47,157 $ (3,405 ) Adjusted net income (loss) per share – Basic $ 0.20 $ 0.12 $ 0.12 $ 0.12 $ (0.01 ) Adjusted net income (loss) per share – Diluted $ 0.20 $ 0.11 $ 0.11 $ 0.12 $ (0.01 ) Article content (1) Includes the impact of foreign exchange rates on deferred tax balances of $28.3 million, $(0.2) million, $1.6 million, $(0.5) million and $(0.9) million for the three months ended June 30 and March 31, 2025 and December 31, September 30 and June 30, 2024, respectively. Article content Reconciliation of Costs Applicable to Sales for Three Months Ended June 30, 2025 In thousands (except metal sales, per ounce or per pound amounts) Las Chispas Palmarejo Rochester Kensington Wharf Silvertip Total Costs applicable to sales, including amortization (U.S. GAAP) $ 80,122 $ 58,109 $ 64,676 $ 56,304 $ 30,542 $ 928 $ 290,681 Amortization (22,375 ) (9,406 ) (16,748 ) (10,221 ) (1,549 ) (928 ) (61,227 ) Costs applicable to sales $ 57,747 $ 48,703 $ 47,928 $ 46,083 $ 28,993 $ — $ 229,454 Inventory Adjustments (523 ) (147 ) (489 ) (222 ) (191 ) — (1,572 ) Acquired inventory purchase price allocation (29,681 ) — — — — — (29,681 ) By-product credit — — — (41 ) (1,188 ) — (1,229 ) Adjusted costs applicable to sales $ 27,543 $ 48,556 $ 47,439 $ 45,820 $ 27,614 $ — $ 196,972 Metal Sales Gold ounces 16,025 26,782 13,881 26,751 23,509 — 106,948 Silver ounces 1,479,410 1,720,383 1,437,811 — 34,916 — 4,672,520 Zinc pounds — — Lead pounds — — Revenue Split Gold 52 % 49 % 49 % 100 % 100 % Silver 48 % 51 % 51 % — % Zinc — % Lead — % Adjusted costs applicable to sales Gold ($/oz) $ 894 $ 888 $ 1,675 $ 1,713 $ 1,175 $ 1,260 Silver ($/oz) $ 8.94 $ 14.39 $ 16.83 $ — $ 13.41 Zinc ($/lb) $ — $ — Lead ($/lb) $ — $ — Article content Article content This Post contains more content. For the full press release please view source version on Article content Article content Article content Contacts Article content For Additional Information Article content Article content Coeur Mining, Inc. Article content Article content 200 S. Wacker Drive, Suite 2100 Article content Article content Chicago, IL 60606 Article content Article content Attention: Jeff Wilhoit, Senior Director, Investor Relations Article content Article content Phone: (312) 489-5800 Article content Article content Article content Article content Article content
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Hensoldt disappoints! Puma collapses! And what is Silver North's share price doing?
Silver has outperformed gold in the current year. Investors can benefit from this with Silver North Resources (TSXV:SNAG) shares. Positive news flow is expected, and following the successful capital increase, the share price can now resume its upward trend. Strong half-year figures should lead to a breakout from the sideways trend for Hensoldt shares. However, the figures were rather disappointing. The defense boom and supercycle are not really benefiting the radar specialist. Puma shares collapsed after the profit warning – and a rebound has not yet materialized. At least one insider is stepping in. Analysts' opinions are strongly divided. This article is disseminated in partnership with Apaton Finance GmbH. It is intended to inform investors and should not be taken as a recommendation or financial advice. So far this year, silver has outperformed gold with a performance of around 40%. The chances are good that this upward trend will continue. This is because the precious metal is also an industrial metal. Demand is being driven by the boom in photovoltaics, electronics, AI, and renewable energies. Another insider tip among silver stocks is Silver North Resources (TSXV:SNAG). The Canadian company has two projects in the famous Yukon region. The Tim project is located in the vicinity of Watson Lake and Coeur Mining's Silvertip mine. The property has good infrastructure and shows anomalous silver-lead-zinc values. Last year, Coeur Mining, as a partner, carried out an initial drilling program. The results have not yet been published. The Haldane property is considered promising and borders the Hecla Mining area. The first 27 drill holes showed very high silver grades of over 300 grams per tonne in some cases. In order to expand the area and collect further data, the Company plans to start another drilling program in Haldane in August. The 10 drill holes, with a length of around 2,500 meters, are intended to expand the Keno-style silver-lead-zinc mineralization at the newly identified Main Fault target. At least three high-grade silver veins have already been identified there. Silver North CEO Jason Weber commented: ' With high-grade silver intersections of 1.83 meters averaging 1,088 g/t silver and 3.90 g/t gold, as well as broader intersections of silver mineralization, such as 5.81 meters averaging 365 g/t silver and 0.23 g/t gold, the Main Fault has become the most promising of our five drill targets .' Following the successful placement of a capital increase at the end of last week, the share price is now likely to resume its upward trend. Hensoldt: Half-year figures disappoint – what now? While investors are looking forward to positive news flow at Silver North Resources, there was some disappointment at Hensoldt. The half-year figures did not bring the hoped-for new impetus for the share. The defense boom and supercycle have not yet really arrived at Hensoldt. Sales revenues at the radar specialist rose from EUR 849 million to EUR 944 million in the first half of 2025. The Company pointed to strong performance in its Optronics division, which helped offset the expected weaker start in the sensors segment. Adjusted EBITDA rose slightly from EUR 103 million to EUR 107 million. The adjusted EBITDA margin fell slightly from 12.2% to 11.3%. This was due to temporarily lower productivity in the Sensors segment as a result of the start-up phase of the new logistics center. At EUR 1.405 billion, order intake, which is so important, was also somewhat disappointing. At EUR 1.359 billion, it was slightly lower than in the previous year. Hensoldt CEO Oliver Dörre nevertheless remains optimistic about the future: ' The current security situation makes it clear every day how important it is for Germany and Europe to invest more in their own security. We now expect this political will to be increasingly reflected in concrete orders – and to arrive in our production halls in very real terms. Our renewed increase in order intake highlights this development and also demonstrates that we have the right solutions to enable our customers to meet the security requirements of the future. But it also contains a clear mandate: we will do everything in our power to deliver quickly, reliably, and with the highest quality. Because true defense capability comes from the consistent expansion of industrial capacity and innovative strength .' The order backlog is at a record level of EUR 7.07 billion (previous year: EUR 6.55 billion). Orders in the previously weak Sensors segment are also contributing to this. There, the Company is benefiting from contract extensions for Eurofighter Mk1 radars. The annual forecast was confirmed. Puma shares are not for the faint-hearted. Following the strong profit warning, the share price slumped from over EUR 24 in recent days to EUR 17.82 yesterday. There is currently no sign of a counter-movement. Arthur Höld sees a buying opportunity at present. According to yesterday's insider report, the Puma Executive Board has purchased shares worth around EUR 100,000. The average purchase price was EUR 19.05. Analyst opinions vary widely. The experts at Baader have changed their recommendation from 'Add' to 'Reduce.' The price target has been adjusted from EUR 25 to EUR 18. From the analysts' point of view, there is a lack of positive prospects. After the restart in the current year, 2026 is likely to be a transition year. Berenberg is more optimistic. Its analysts believe that rapid change is possible in the sporting goods sector. Puma's archrival Adidas recently achieved this feat, after poaching Puma's new CEO. Berenberg, therefore, continues to recommend buying Puma shares and sees their fair value at EUR 40. Insider tip Silver North Resources is facing an exciting summer. The capital increase was successfully placed, and the share price can continue its upward trend. Hensoldt, on the other hand, lacks momentum. Despite a strong order backlog, this has yet to translate into significant revenue and profit growth. The stock has already priced in some of these challenges. At Puma, there is no rebound in sight yet. Whether the Company can turn things around as quickly as Adidas is a bet with many unknowns. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a 'Transaction'). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company. In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships. For this reason, there is a concrete conflict of interest. The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies. 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Yahoo
29-07-2025
- Business
- Yahoo
Coeur Mining, Inc. (CDE) Presents Bullish Case for Rochester Mine at RBC Capital Markets Global Mining & Materials Conference
With strong billionaire interest, Coeur Mining, Inc. (NYSE:CDE) is included in our list of the . A closeup view of a large gold mine, illustrating the company's gold properties. In June, Coeur Mining, Inc. (NYSE:CDE) attended the RBC Capital Markets Global Mining & Materials Conference, presenting a bullish case for the multi-asset producer, the Rochester mine, which is set to demonstrate a solid performance. The mine, which recently underwent an upgrade, is now in its first full year of operations at this new, larger scale. Rochester is expected to expand margins by significantly boosting silver output and cutting costs. Furthermore, the addition of high-grade, low-cost production through Las Chispas has expanded the company's portfolio. Coeur Mining, Inc. (NYSE:CDE)'s proven and probable reserves are up 66% over five years, thanks to its $77-$93 million budget for 2025. With a reduction in net debt/EBITDA to 0.9x and expectations of EBITDA doubling in the next year, the company is well placed for strong future growth. The company's share price is up 62.24% on a YTD basis. With Palmarejo, Rochester, Kensington, Wharf, Silvertip, and Las Chispas segments, Coeur Mining, Inc. (NYSE:CDE) operates as a gold and silver producer in the United States, Canada, and Mexico. It is included in our list of the best gold stocks. While we acknowledge the potential of CDE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 14 Cheap Transportation Stocks to Buy According to Analysts and 10 Cheap Lithium Stocks to Buy According to Hedge Funds. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
