This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs