- Coeur Mining released its Q2 results last week, reporting silver production of ~2.6 million ounces, and gold production of ~87,300 ounces.
- This translated to a significant improvement from Q2 2020 levels, though Coeur was up against very easy year-over-year comps, with Palmarejo having a softer quarter due to shutdowns.
- While POA 11 at Rochester continues to advance well, the company has cited inflationary pressures, suggesting costs could come in slightly above the ~$397 million initial capex estimate.
- Coeur continues to have one of the better growth profiles in the sector, but at ~22x earnings at a share price of $7.65, I continue to see better value elsewhere.
For further details see:
Coeur Mining: Rochester Expansion Continues To Progress On Schedule