Coeur Mining Reports Improved Q3 Silver Equivalent Production But Lowers 2017 Guidance

Coeur Mining (CDE) reported late Thursday that Q3 production was 9.5 million silver equivalent ounces, comprised of 4.0 million silver ounces and 93,293 gold ounces.

Q3 silver equivalent production increased 7% quarter-over-quarter and 10% year-over-year. The quarterly increase in silver equivalent production was driven by a 13% increase in gold production while higher year-over-year silver equivalent production was due to a 10% increase in gold output and an 11% increase in silver production. Metal sales were in line with Q3 production, with 3.8 million ounces of silver and 89,972 ounces of gold, or 9.2 million silver equivalent ounces.

Coeur has revised its 2017 production guidance to reflect lower expected silver equivalent production at the San Bartolome mine due to persistent drought conditions. It now sees production of 37.3 million to 40.1 million ounces, down from the prior guidance of 37.8 million to 40.7 million.

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