Here's Why Coeur Mining Stock Fell as Much as 17.5% Today
Shares of Coeur Mining (NYSE: CDE) fell over 17% today after the company reported preliminary fourth-quarter and full-year 2019 operating results. The precious metals miner delivered solid performance from three mines: Palmarejo (the best-performing asset in the portfolio), Kensington (a 12% year-over-year increase in gold output), and Wharf (10% year-over-year increase in gold output).
But two mines performed below expectations. Rochester suffered from lower crushing rates that weighed on full-year silver and gold production, while Silvertip underwhelmed in the final quarter of the year. That combined weakness resulted in the company missing full-year 2019 production guidance for silver, zinc, and lead.
As of 1:26 p.m. EST, the small-cap stock had settled to a 13.6% loss.
Source Fool.com
