Coeur Mining, Inc. CDE announced an operational update at the expanded Rochester silver-gold mine in Nevada. The update indicates favorable outcomes, including higher throughput and progress in reducing crushing size, paving the way for a solid second-half performance.

Coeur Mining’s Operational Update

At Rochester, the new three-stage crushing circuit continues to provide significantly increased flexibility to serve the complete spectrum of mined ore. Nearly 2.7 million tons were placed on the new Stage VI leach pad in August 2024. This marked a 39% increase from the placement levels of the previous month. 

The three-stage crusher is now fully ramped up. With this milestone, the focus has shifted to particle sizing optimization in the second half of the year. These efforts are already exceeding expectations.

CDE’s Outlook for Rochester

Rochester is on track to achieve its full-year production targets of 4.8-6.6 million ounces of silver and 37,000-50,000 ounces of gold. As crushing and placement rates continue to meet full capacity, the priority for the rest of 2024 is to further refine the material crush size, aiming for optimal recovery rates heading into 2025.

Recent exploration performance within the current mining footprint adds higher-grade upside potential to Rochester's current mine plan, preparing it for long-term success.

Coeur Mining’s Q2 Performance

The company came out with a second-quarter 2024 loss of 1 cent per share, narrower than the Zacks Consensus Estimate of a loss of 2 cents. CDE posted a loss per share of 6 cents in the second quarter of 2023. 

Coeur Mining reported revenues of $222 million for the quarter ended June 2024, missing the Zacks Consensus Estimate of $236 million. This compares to year-ago revenues of $177 million million.

CDE Share Price Performance

The company’s shares have gained 208.5% in the past year compared with the industry’s 14.3% growth.

 

Image Source: Zacks Investment Research

 

Coeur Mining’s Zacks Rank & Stocks to Consider

CDE currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, IAMGOLD Corporation IAG and Eldorado Gold Corporation EGO. CRS, IAG  and EGO sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Carpenter Technology’s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for 2025 earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS shares have gained 106.1% in a year.

The Zacks Consensus Estimate for IAMGOLD’s 2024 earnings is pegged at 39 cents per share. The consensus estimate for 2024 earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG shares have gained 135.7% in a year.

The Zacks Consensus Estimate for Eldorado Gold’s 2024 earnings is pegged at $1.32 per share. The consensus estimate for 2024 earnings has moved 22% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO shares have gained 84.7% in a year.