Why Coeur Mining Stock Sank Today
Shares of Coeur Mining (NYSE: CDE) are falling today, down by 15.3% as of 2:36 p.m. EDT, in wake of the the gold and silver miner releasing first-quarter results after yesterday's market close. Investors are clearly not pleased, but it requires a little extra digging to see why.
At first blush, Coeur's numbers weren't so bad. First-quarter 2021 revenue came in at roughly $202 million, up significantly from $128 million in the prior-year period. Gold sales rose 8% and silver sales jumped 42%. The realized gold price increased about 11.5% and production was basically flat. The realized silver price soared a massive 57%, helping to offset a production drop of roughly 11%. Net income per share, meanwhile, came in at $0.01 compared to a $0.05-per-share loss in the year-ago period. The company posted adjusted net income of $0.06 per share versus a breakeven result in Q1 2020. All in, that sounds pretty positive.
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Source Fool.com
