In This Article:
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Free Cash Flow: $85 million in the second half of 2024.
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Debt Reduction: $80 million reduction in 2024.
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Earnings: Nearly $90 million in 2024.
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Adjusted EBITDA: More than doubled to $339 million for full-year 2024.
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Gold Production: Expected to reach over 400,000 ounces in 2025, a 20% increase from 2024.
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Silver Production: Expected to reach over 18 million ounces in 2025, a 62% increase from 2024.
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Revenue: Exceeded $1 billion in 2024.
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Capital Expenditures: $183 million in 2024, cut in half from the prior year.
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Exploration Expenditures: Approximately $60 million in 2024.
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Net Debt-to-EBITDA Ratio: Improved to 1.6 times from 3.4 times a year ago.
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Free Cash Flow Guidance: Expected $75 million to $100 million per quarter starting Q2 2025.
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2025 Production Guidance: 7 million to 8.3 million ounces of silver and 60,000 to 75,000 ounces of gold.
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Wharf Free Cash Flow: $95 million for full-year 2024, setting a new record.
Release Date: February 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Coeur Mining Inc (NYSE:CDE) reported a significant increase in free cash flow, generating $85 million in the second half of 2024.
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The company successfully reduced its debt by $80 million, improving its financial position.
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Coeur Mining Inc (NYSE:CDE) achieved a more than doubling of its adjusted EBITDA to $339 million for the full year 2024.
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The Rochester expansion ramp-up was successful, contributing to increased production and free cash flow.
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The acquisition of SilverCrest is expected to enhance Coeur Mining Inc (NYSE:CDE)'s production capabilities and financial performance in 2025.
Negative Points
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The first quarter of 2025 is expected to be 'messy' due to several one-time outflows, including significant tax payments in Mexico.
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Kensington's cost per ounce is projected to increase, impacting overall profitability.
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Rochester experienced slightly lower-than-planned silver production due to larger crush sizes.
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The company anticipates a back-half weighted production year at Rochester due to leach kinetics and weather conditions.
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There are ongoing challenges in achieving the targeted crush size at Rochester, impacting recovery rates.
Q & A Highlights
Q: Can you provide an update on the cash and bullion status following the Las Chispas acquisition? A: Mitchell Krebs, CEO, explained that SilverCrest's balance sheet was a key factor in the acquisition, with plans to use cash and bullion to reduce debt. Thomas Whelan, CFO, added that SilverCrest had $153 million in cash and $40 million in bullion at year-end, with the cash balance closer to $100 million at closing due to various payments.