Financial Data and Key Metrics Changes - The company reported record results for the second consecutive quarter, with cash balance expected to exceed $500 million by year-end, placing the company in a net cash position heading into 2026 [2][4] - Full year EBITDA is now expected to exceed $1 billion, and free cash flow is projected to top $550 million, both higher than prior estimates [2][4] - Metal sales increased by 15% to $555 million during the quarter, driven by a higher number of ounces sold and a 15% increase in silver prices [17] Business Line Data and Key Metrics Changes - Las Chispas operation generated $66 million in free cash flow, with silver production increasing to 1.6 million ounces and gold production to 17,000 ounces [9][10] - Palmarejo delivered $47 million in free cash flow, with strong recoveries and mill throughput reaching the highest levels in six quarters [10][14] - Rochester's gold and silver production increased by 3% and 13% respectively compared to the second quarter, resulting in free cash flow of $30 million [11] - Kensington achieved free cash flow of $31 million, its highest quarterly cash flow in over six years [13][14] - Wharf's gold production increased by 16% to 28,000 ounces, leading to free cash flow of $54 million [14] Market Data and Key Metrics Changes - The company noted a strong performance in the North American market, benefiting from record-setting metals prices [14][17] - The average cash cost per ounce for gold and silver was reported at $1,215 and $14.95 respectively, continuing a positive trend compared to Q3 2024 [9] Company Strategy and Development Direction - The company is focused on maintaining a balanced portfolio of North American assets and is evaluating capital allocation priorities, including share repurchase programs [6][22] - The integration of Las Chispas is complete, and the company is looking to leverage its strong cash flow position for future growth opportunities [10][36] - The company is not currently focused on development stage investments but is actively monitoring opportunities that fit its criteria [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for a strong finish to the year and a record-breaking year in 2026, driven by operational improvements and favorable market conditions [4][22] - The company anticipates a material step up in production from 2025 to 2026, with expectations for increased throughput and efficiency at operations [33] Other Important Information - The company recorded a one-time $162 million non-cash tax benefit due to U.S. net operating losses, reflecting strong performance over the past three years [19] - The company has repaid over $228 million in debt during 2025, achieving a net debt ratio of 0.1 times [18] Q&A Session Summary Question: What is needed to get the Rochester operation up to full capacity? - Management discussed recent modifications to improve efficiency and productivity, indicating that unplanned downtime was a temporary setback [26][28] Question: How does the company view growth opportunities in the market? - Management stated that they are focused on internal priorities but are always evaluating opportunities that align with their strategic goals [36] Question: What should be expected regarding the tax rate for next year? - The effective tax rate is expected to change to around 24% due to the utilization of net operating losses, which is a significant shift from previous years [44] Question: Was there a drop in grade at Palmarejo and Las Chispas? - Management clarified that the drop in grade was related to the sequencing of ore processed and the decision to run more tonnes through the mill [48] Question: What are the expectations for unit costs and inflation pressures? - Management indicated that they are experiencing a favorable cost environment with flat input costs, despite some royalty pressures [53][55]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Financial Highlights - The company achieved record quarterly net income, free cash flow, and adjusted EBITDA [8] - The company's cash balance more than doubled, reaching $266 million [29] - The net leverage ratio decreased to 01x [9, 29] - Approximately 10% of the $75 million share repurchase program has been completed [10] Production and Operations - Record quarterly production was supported by solid cost performance [7] - Las Chispas is outperforming expectations, and its integration is now complete [11] - The company increased its full-year EBITDA and FCF targets while refining guidance ranges [11] - Silver production was 4756K oz [16] Financial Performance Metrics - Revenue increased by 15% quarter-over-quarter to $5546 million [30] - Net income increased by 277% quarter-over-quarter to $2668 million [30] - Free cash flow increased by 29% quarter-over-quarter to $1887 million [30] - Adjusted EBITDA increased by 23% quarter-over-quarter to $2991 million [30]

Core Insights - Coeur Mining reported quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share, but showing an increase from $0.12 per share a year ago, resulting in an earnings surprise of -8.00% [1] - The company posted revenues of $554.57 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.38% and significantly up from $313.48 million year-over-year [2] - Coeur Mining shares have increased approximately 219.6% since the beginning of the year, outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $612.5 million, and for the current fiscal year, it is $0.86 on revenues of $2 billion [7] - The estimate revisions trend for Coeur Mining was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Mining - Non Ferrous industry, to which Coeur Mining belongs, is currently ranked in the top 7% of over 250 Zacks industries, suggesting a strong outlook for stocks within this sector [8]

Financial Performance - Coeur reported Q3 2025 revenue of $554.6 million, a 15% increase from Q2 2025, driven by higher gold and silver sales [120][123] - GAAP net income for Q3 2025 was $266.8 million, or $0.41 per diluted share, compared to $70.7 million, or $0.11 per diluted share in Q2 2025 [120][134] - Adjusted EBITDA for Q3 2025 was $299.1 million, a 23% increase from Q2 2025, contributing to a trailing twelve-month total of $808 million [120][121] - Revenue increased by $646.7 million, or 86%, driven by a 22% increase in gold ounces sold and a 65% increase in silver ounces sold [135] - Net income was $370.9 million, or $0.61 per diluted share, compared to $21.0 million, or $0.05 per diluted share in the previous year [148] - Adjusted net income for the nine months ended September 30, 2025, was $334,561 thousand, compared to $24,729 thousand for the same period in 2024 [197] - Free cash flow for the three months ended September 30, 2025, was $188,672 thousand, up from $146,144 thousand in the previous quarter [202] - EBITDA for the three months ended September 30, 2025, was $249,146 thousand, compared to $202,993 thousand for the previous quarter [199] - Adjusted EBITDA for the nine months ended September 30, 2025, was $691,450 thousand, significantly higher than $222,785 thousand for the same period in 2024 [199] Production Metrics - Gold production reached 111,364 ounces, a 3% increase quarter-over-quarter, while silver production was 4.8 million ounces, up 1% quarter-over-quarter and 57% year-over-year [120][121] - Gold sales reached $918.9 million, a 74% increase, while silver sales increased to $476.4 million, an 118% increase [136] - Gold production for the three months ended September 30, 2025, was 114,495 ounces, while silver production was 4,985,952 ounces [211] - For the nine months ended September 30, 2025, gold and silver production totaled 39,986 and 3,774,761 ounces respectively, following the acquisition of SilverCrest [157] - Gold ounces produced at Palmarejo for the quarter were 24,802, with a decrease in average gold grade to 0.050 oz/t [158] - For the nine months ended September 30, 2025, gold production at Kensington increased by 11% due to higher mill throughput [167] - Gold production included 52,000 ounces from Las Chispas, 100,018 ounces from Palmarejo, 68,000 ounces from Rochester, 104,271 ounces from Kensington, and 95,454 ounces from Wharf [218] - Silver production totaled 5,240,757 ounces from Las Chispas, 6,006,911 ounces from Palmarejo, and 7,752,237 ounces from Rochester [218] Costs and Expenses - Costs applicable to sales rose by $235.0 million, or 53%, primarily due to post-acquisition sales at Las Chispas [138] - Amortization increased by $89.0 million, or 101%, due to increased production at Las Chispas, Rochester, and Kensington [139] - General and administrative expenses rose by 12% due to higher stock-based compensation and annual incentive costs [127] - Costs applicable to sales per gold and silver ounce sold were $935 and $10.77 respectively, reflecting an adjusted basis after accounting for inventory impacts [156] - For the nine months ended September 30, 2025, costs applicable to sales totaled $682,456,000, with gold production of 310,759 ounces and silver production of 13,550,625 ounces [213] - Costs applicable to sales for Las Chispas amounted to $98,737,000, while Palmarejo reported $206,988,000, Rochester $200,710,000, Kensington $178,666,000, and Wharf $123,751,000 [218] - The average cost of gold per ounce for the three months ended September 30, 2025, was $1,837, while the average cost of silver was $21.15 [211] Debt and Liquidity - The company’s cash and equivalents more than doubled to $266 million at quarter-end, with a net leverage ratio of 0.1x [120] - The company repaid over $228 million of total debt year-to-date, significantly improving its liquidity position [120] - Total debt as of September 30, 2025, was $363,516,000, down from $380,722,000 in the previous quarter [209] - Net debt decreased to $97,174,000 as of September 30, 2025, from $269,076,000 in the previous quarter [209] - Cash provided by operating activities for the nine months ended September 30, 2025, was $512.3 million, a significant increase from $110.4 million in the same period of 2024 [177] - The company believes its liquidity and capital resources in the U.S. are adequate to fund its operations and corporate activities [193] Taxation - The effective tax rate for Q3 2025 was (57.0)%, influenced by a $216 million release of valuation allowance against U.S. deferred tax assets [130][132] - The company released a $216.0 million valuation allowance against its U.S. net deferred tax assets, resulting in a non-cash deferred tax benefit [146] - The effective tax rate for 2025 is projected to be between 27% - 33% [152] - The tax effect of adjustments for the three months ended September 30, 2025, was $173.0 million, representing a 415.5% increase [197] Future Outlook - Full-year 2025 gold production guidance was refined to 415,250 ounces, a 1% increase in the midpoint, while silver production guidance was adjusted to 18.1 million ounces, a 2% decrease [120] - The updated 2025 production guidance for gold is 392,500 - 438,000 ounces and for silver is 17,100 - 19,150 thousand ounces [150] - The company plans to issue equity securities or repurchase debt securities to reduce indebtedness and fund future cash interest payments [194] - Future plans include continued exploration to extend mine lives, debt reduction, and investment in the viability of the Silvertip project [174] Risk Management - The company operates in several foreign countries, exposing it to foreign currency exchange rate risks that may significantly impact profitability and cash flow [229] - The company had no outstanding foreign currency forward exchange contracts at September 30, 2025 [230] - The company had no outstanding interest rate swaps at September 30, 2025, indicating a focus on managing interest rate exposure [231] - A 10% change in realized gold prices would cause revenue to vary by $4.7 million [228] - The company had forward contracts for gold and silver that settled monthly through June 2024 to protect cash flow during the Rochester expansion ramp-up [226]

Financial Performance - Record third quarter 2025 revenue of $555 million, up from $481 million in the prior quarter and $314 million year-over-year[9] - Adjusted EBITDA for the quarter was a record $299 million, a 23% increase from the prior quarter, contributing to a last twelve-month total of $808 million[5] - Free cash flow increased by 29% to a record $189 million, marking the fifth consecutive quarter of positive free cash flow[5] - Net income for Q3 2025 was $266.82 million, compared to $48.74 million in Q3 2024, representing a year-over-year increase of 448.5%[70] - Cash provided by operating activities for Q3 2025 was $237.71 million, compared to $111.06 million in Q3 2024, indicating a 113.1% increase[71] - The company reported a comprehensive income of $266.82 million for Q3 2025, compared to $48.74 million in Q3 2024[70] Production Metrics - Gold production increased to 111,364 ounces, a 3% increase quarter-over-quarter and a 17% increase year-over-year; silver production reached 4.8 million ounces, up 1% quarter-over-quarter and 57% year-over-year[5] - Third quarter gold production totaled 24,802 ounces, down from 27,272 ounces in the prior quarter, while silver production was 1.5 million ounces compared to 1.7 million ounces[24] - Gold production in Q3 2025 increased to 27,231 ounces, up from 26,555 ounces in Q2 2025 and 24,104 ounces in Q3 2024[37] - Wharf's Q3 2025 gold production increased 16% quarter-over-quarter to 27,990 ounces, driven by higher gold grades[42] - Full-year 2025 gold production guidance increased by 1% to 415,250 ounces, while silver production guidance decreased by 2% to 18.1 million ounces[5] Cost Management - Adjusted CAS for gold and silver on a co-product basis was $887 and $16.44 per ounce, respectively, in the third quarter[24] - Adjusted CAS decreased to $1,659 per ounce in Q3 2025, down from $1,713 per ounce in Q2 2025, primarily due to increased metal sales[40] - The company reported a decrease in total costs applicable to sales from $290,681,000 to $195,097,000 over the reported periods, indicating improved cost management[85][89] - Adjusted costs applicable to sales for gold were $1,260 per ounce, and for silver, it was $13.41 per ounce[85] Cash and Liquidity - Cash and equivalents more than doubled to $266 million compared to the prior quarter-end, with a net leverage ratio decreased to 0.1x[5] - The company’s cash, cash equivalents, and restricted cash at the end of Q3 2025 totaled $268.18 million, significantly higher than $78.68 million at the end of Q3 2024[71] - Total debt decreased to $363,516 in Q3 2025 from $380,722 in Q2 2025 and $498,269 in Q1 2025[81] - Net debt significantly reduced to $97,174 in Q3 2025 from $269,076 in Q2 2025 and $420,695 in Q1 2025[81] Tax and Benefits - The company recorded a significant tax benefit of $216 million related to the recognition of U.S. deferred tax assets[12] - Income tax benefit for Q3 2025 was $96.88 million, compared to an expense of $25.82 million in Q3 2024[70] - The effective tax rate is projected to be between 27% and 33% for 2025, with cash taxes estimated at $165 - $195 million[55] Capital Expenditures and Investments - Capital expenditures for the quarter totaled $49 million, with sustaining capital expenditures accounting for approximately 70% of the total[14] - Exploration investment in the third quarter was approximately $30 million, consistent with the prior period[10] - Capital expenditures for 2025 are expected to be $26 - $32 million, unchanged from previous guidance[28] - Exploration investment in 2025 is expected to be $16 - $18 million, which is unchanged from the previous guidance range[28] Guidance and Projections - Full-year 2025 production guidance for gold is now 96,000 - 106,000 ounces (previously 95,000 - 105,000 ounces) and for silver is 6.0 - 6.8 million ounces (previously 5.4 - 6.5 million ounces)[28] - The updated 2025 guidance for general & administrative expenses has been increased to $50 - $55 million, reflecting a non-cash increase in incentive compensation[56] - Gold production guidance for 2025 is set between 850 to 950 dollars per ounce, while silver is projected between 9.25 to 10.25 dollars per ounce[93] Market Conditions - Average realized gold price was $3,148 per ounce, a 4% increase from the prior quarter; average realized silver price was $38.93 per ounce, a 15% increase[9] - The average gold spot price per ounce in Q3 2025 was $3,457, compared to $2,474 in Q3 2024, reflecting a year-over-year increase of approximately 39.7%[65] - The average silver spot price per ounce in Q3 2025 was $39.40, up from $29.43 in Q3 2024, representing a year-over-year increase of about 33.9%[65]

Core Points - Spot gold prices fell below $4000, leading to a decline in U.S. gold stocks [1] - Major gold mining companies experienced significant stock drops, with Gold Fields (GFI.US) down over 9%, AngloGold Ashanti (AU.US) down over 7.8%, Newmont Corporation (NEM.US) down over 6.8%, Coeur Mining (CDE.US) down over 8.9%, Agnico Eagle Mines (AEM.US) down over 6%, and Barrick Gold (B.US) down over 3.8% [1] Economic Context - U.S. and China trade teams concluded a two-day discussion in Kuala Lumpur, focusing on key economic issues such as U.S. maritime logistics and shipbuilding industry measures, extension of tariff suspension, fentanyl tariffs and enforcement cooperation, agricultural trade, and export controls [1] - The discussions were characterized as candid, in-depth, and constructive, with both sides reaching a basic consensus on addressing mutual concerns [1] - The outcomes of the talks received positive evaluations from various parties involved [1]

Core Insights - Coeur Mining (CDE) is set to report its third-quarter 2025 results on October 29, with total sales estimated at $547 million, reflecting a 74% increase year-over-year [1][5] - The consensus estimate for earnings per share (EPS) is 25 cents, indicating a growth of 108% compared to the same quarter last year [1][5] - The company has a strong earnings surprise history, beating estimates in three of the last four quarters, with an average surprise of 126.47% [2][3] Financial Performance - The Zacks Consensus Estimate for third-quarter silver production is 5.0 million ounces, up 66% from 3.02 million ounces in the prior year, while gold production is expected to reach 111,000 ounces, a 17% increase from 95,000 ounces [14] - Coeur Mining's second-quarter 2025 silver production was 4.7 million ounces, a 79% year-over-year increase, with gold production at 108,487 ounces, up 38% [6][8] - The Las Chispas mine is expected to contribute significantly to the third-quarter results, with full-quarter output anticipated [8] Market Conditions - The favorable pricing environment has positively impacted Coeur Mining's performance, with gold prices averaging around $3,500 per ounce, up 41% year-over-year, and silver prices averaging $39.80 per ounce, up 34% [15] - The company maintained its 2025 production guidance of 380,000–440,000 ounces of gold and 16.7–20.25 million ounces of silver, suggesting year-over-year increases of 20% and 62% at the midpoint [7] Stock Performance - Coeur Mining's shares have increased by 231.8% year-to-date, significantly outperforming the non-ferrous mining industry's growth of 24.1% [17]

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Group 1 - Newmont Mining (NEM.US) experienced a decline of 6.8% [1] - Coeur Mining (CDE.US) saw a drop of 4.5% [1] - Other companies such as Kinross Gold (KGC.US), Gold Fields (GFI.US), Harmony Gold (HMY.US), and Barrick Gold (GOLD.US) all fell by over 2% [1]