Coeur Mining, Inc. reported significant financial growth in its first quarter of 2025, with total revenue reaching $360.1 million, a 69% increase compared to $213.1 million in the same period last year. The company achieved a net income of $33.4 million, or $0.06 per diluted share, contrasting with a net loss of $29.1 million in the first quarter of 2024. This improvement was driven by increased gold and silver production, particularly from the newly acquired Las Chispas mine, which contributed to a 50% rise in silver sales and a 55% increase in gold sales year-over-year.
The company’s operational metrics also reflected positive trends, with gold production totaling 86,766 ounces and silver production at 3.7 million ounces, marking a 7% and 44% increase, respectively, from the previous year. The acquisition of SilverCrest Metals Inc. on February 14, 2025, played a crucial role in this growth, as it not only expanded Coeur's asset base but also enhanced its production capabilities. The integration of Las Chispas is reportedly proceeding smoothly, with the mine contributing 714,239 ounces of silver and 7,175 ounces of gold during the quarter.
Coeur Mining's balance sheet showed a substantial increase in total assets, which rose to $4.07 billion from $2.30 billion at the end of 2024, largely due to the acquisition of SilverCrest. The company’s cash and cash equivalents also improved, reaching $77.6 million, up from $55.1 million at the end of the previous year. However, total debt decreased to $498.3 million from $590.1 million, reflecting a strategic focus on reducing leverage and strengthening liquidity. The company’s net leverage ratio stood at 0.9x at the end of the quarter.
Looking ahead, Coeur Mining has reaffirmed its production guidance for 2025, expecting to produce between 380,000 to 440,000 ounces of gold and 16.7 to 20.3 million ounces of silver. The company anticipates that the operational efficiencies gained from the Las Chispas acquisition, along with ongoing improvements at its other mining operations, will support its production targets. Additionally, Coeur plans to continue investing in exploration and development to extend the life of its existing mines and enhance its resource base.
About Coeur Mining, Inc.
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