- Coeur Mining released its Q3 results this week, reporting quarterly production of ~87,100 ounces of gold and 2.5 million ounces of silver, and revenue of $208 million.
- The company's revenue was down 9% on a year-over-year basis, driven by fewer ounces sold and a much lower average realized gold price.
- After a more than 50% correction, Coeur is becoming more reasonably valued, but still trades at approximately ~15x FY2023 earnings estimates.
- While this isn't an expensive price for an organic growth story, I believe there is much better value out in the sector among names with a track record of production growth per share.
For further details see:
Coeur Mining: Inflationary Pressures Hit Growth Capex Estimates At Rochester