Financial Performance - Coeur reported Q4 2024 revenue of 305million,withfull−yearrevenuereaching1.1 billion, a 34% increase from 821millionin2023[1][9].−RevenuefortheyearendedDecember31,2024,increasedto1,054,006,000, a 28.4% rise from 821,206,000in2023[75].−Netincomefor2024was58,900,000, compared to a net loss of 103,612,000in2023,markingasignificantturnaround[75].−Thecompanyreportedabasicincomepershareof0.15 for 2024, recovering from a loss of 0.30persharein2023[75].−AdjustedEBITDAfor2024was339,152,000, with an adjusted EBITDA margin of 32%[79]. - Cash provided by operating activities for 2024 was 174,234,000,significantlyhigherthan67,288,000 in 2023[77]. - Free cash flow for 2024 was (8,954,000),animprovementfrom(297,329,000) in 2023[83]. - Total debt as of 4Q 2024 was 590,058,000,withnetdebtat534,971,000, indicating a leverage ratio of 1.6[87]. Production and Guidance - Full-year 2024 gold production totaled 341,582 ounces, and silver production was 11.4 million ounces, representing year-over-year increases of 8% and 11%, respectively[3][9]. - 2025 production guidance is set at 380,000 - 440,000 ounces of gold and 16.7 - 20.3 million ounces of silver, reflecting expected year-over-year increases of 20% and 62%, respectively[4][17]. - Gold production in Q4 reached 26,931 ounces, compared to 24,104 ounces in the prior period, with full-year production totaling 95,671 ounces, within the guidance range of 92,000 - 106,000 ounces[37]. - For the full year 2024, gold production reached 108,666 ounces and silver production reached 6.8 million ounces, exceeding guidance ranges of 95,000 - 103,000 ounces of gold and 5.9 - 6.7 million ounces of silver[22]. - Full-year 2025 production is expected to be 92,500 - 107,500 gold ounces, with CAS projected at 1,700−1,900 per gold ounce[42]. Costs and Expenses - Adjusted CAS for gold and silver on a co-product basis increased 9% and 26% quarter-over-quarter to 894and15.92 per ounce, respectively, driven by lower metal sales[22]. - Adjusted costs applicable to sales for 2024 totaled 595,261,000,withgoldsalesaveraging1,203 per ounce[89]. - The company is focusing on cost management strategies to enhance profitability across its operations[106]. - Adjusted costs for gold in 2024 are expected to be between 950and1,150 per ounce, while silver is projected at 15.50to16.50 per ounce[107]. Capital Expenditures and Investments - Capital expenditures for 2024 totaled 183,188,000,adecreasefrom364,617,000 in 2023[77]. - Capital expenditures in Q4 2024 increased 24% quarter-over-quarter to 10million,whilefull−yearcapitalexpendituresdecreased2731 million[22]. - Capital expenditures for 2025 are projected to be 26−32 million, primarily for sustaining capital and underground development[26]. - The company invested approximately 77millioninexplorationin2024,significantlyupfrom41 million in 2023[11]. Strategic Initiatives - The acquisition of SilverCrest for 1.58billionclosedonFebruary14,2025,enhancingCoeur′spositionasaleadingglobalsilvercompany[4][16].−Thecompanyplanstocontinueitsmarketexpansionandproductdevelopmentinitiativestodrivefuturegrowth[75].−Theexplorationprogramin2025willfocusonextendingandbuildingtheresourcebaseadjacenttocurrentresources,followinguponkeytargetsoutlinedinthe2024regionalprogram[53].MarketConditions−Averagerealizedpricesforgoldandsilverin2024were2,156 and 27.95perounce,respectively,comparedto1,825 and 24.21perouncein2023[9][10].−Theaveragegoldspotpriceperouncein2024was2,386, while the average silver spot price was 28.27[69].−Theaveragezincspotpriceperpoundin2024was1.26, and the average lead spot price was $0.94[69].
Coeur Mining(CDE)2025-02-19 21:42