Coeur Mining’s Strong Q3 2024: Production and Growth

Coeur D’alene Mines ( (CDE) ) has released its Q3 earnings. Here is a breakdown of the information Coeur D’alene Mines presented to its investors.

Coeur Mining, Inc. is a U.S.-based precious metals producer, operating in the mining sector with four main operations and a notable exploration project. The company recently released its third quarter earnings report for 2024, showcasing significant production increases, cost reductions, and higher metal prices leading to a net income of $49 million and adjusted EBITDA of $126 million.

Key financial highlights include a 21% increase in gold production and a 15% increase in silver production, with costs per ounce for both metals decreasing by 12%. The company’s revenue surged to $313 million, marking a substantial 41% increase from the previous quarter. Additionally, free cash flow reached $69 million, the highest in over a decade, as Coeur continues its debt reduction efforts by decreasing its revolving credit facility by $50 million.

Among strategic announcements, Coeur reaffirmed its full-year production guidance and highlighted the successful expansion of its Rochester operations, which remain on track to meet year-end goals. The company also announced its acquisition of SilverCrest Metals, expected to significantly enhance Coeur’s operational profile and accelerate its financial strategies.

Looking ahead, Coeur Mining’s management is optimistic about maintaining consistent free cash flow, supported by ongoing operational excellence and strategic acquisitions. The company is well-positioned to achieve record-breaking results in 2025 as it capitalizes on its expanded project portfolio and favorable market conditions.