This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Coeur Reports Strong Second Quarter Financial And Operating Results; Provides Positive Update To 2012 Guidance

Stocks in this article: CDE CDM

Coeur d'Alene Mines Corporation (NYSE:CDE, TSX:CDM) produced 4.9 million ounces of silver and 63,047 ounces of gold during the second quarter, which resulted in $254.4 million in sales, $88.4 million in operating cash flow, 1 and a $47.1 million increase in cash, cash equivalents and short-term investments to $200.3 million.

The Company expects to achieve the high-end of its 2012 silver and gold production guidance of 18.5 - 20.0 million silver ounces and 210,000 - 230,000 gold ounces. The Company also expects to achieve the low-end of its 2012 guidance for cash operating costs 1 per silver ounce of $6.50 - $7.50.

Second Quarter Highlights

  • Silver production totaled 4.9 million ounces, equal to first quarter 2012 levels.
  • Gold production totaled 63,047 ounces, up 44% from the first quarter.
  • Net metal sales totaled $254.4 million, up 24% from the first quarter.
  • Operating cash flow 1 totaled $88.4 million, down 6% from the first quarter. Including changes in working capital, net cash from operating activities totaled $113.2 million compared to $17.0 million in the first quarter.
  • Consolidated cash operating costs 1 totaled $6.41 per silver ounce, up slightly from the first quarter.
  • Cash operating costs 1 per gold ounce declined 50% from the first quarter to $1,348 and are expected to reach $900 by year-end.
  • Adjusted earnings 1 totaled $28.0 million, or $0.31 per share, compared to $41.5 million, or $0.46 per share, in the first quarter. Net income totaled $23.0 million, or $0.26 per share, compared to $4.0 million, or $0.04 per share, in the first quarter.
  • Announced a share repurchase program of up to $100 million of the Company's common stock and finalized a $100 million, four-year revolving credit facility.
  • Cash, cash equivalents and short-term investments totaled $200.3 million as of June 30, 2012, $47.1 million higher than March 31, 2012.

“The Company is performing according to plan, which is leading to strong financial performance,” said Mitchell J. Krebs, Coeur's President and Chief Executive Officer. “The Board of Directors' authorization in June to repurchase up to $100 million of the Company's common stock reflects our confidence in the Company's underlying cash flow and the long-term value the Company represents for shareholders,” he said.

1 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs