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Coeur Mining, Inc. (CDE) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Coeur Mining, Inc.

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CIK: 215466 Ticker: CDE

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Coeur Reports Fourth Quarter and Full-Year 2020 Results
Provides Full-Year 2021 Guidance

Chicago, Illinois - February 17, 2021 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported fourth quarter 2020 financial results, including revenue of $228.3 million, cash flow from operating activities of $67.3 million and GAAP net income from continuing operations of $11.9 million, or $0.05 per share. On an adjusted basis
1, the Company reported EBITDA of $84.0 million, cash flow from operating activities prior to changes in working capital of $58.5 million and net income from continuing operations of $19.1 million, or $0.08 per share.
For the full year, Coeur reported revenue of $785.5 million, cash flow from operating activities of $148.7 million and GAAP net income from continuing operations of $25.6 million, or $0.11 per share. On an adjusted basis1, the Company reported EBITDA of $263.4 million, cash flow from operating activities prior to changes in working capital of $162.4 million and net income from continuing operations of $59.0 million, or $0.24 per share.
Key Highlights
•Strong second half drove solid full-year 2020 financial results - Revenue, operating cash flow and adjusted EBITDA1 increased 10%, 62% and 51%, respectively, in 2020. Additionally, the Company generated $49.4 million of free cash flow1 during the year. These notable year-over-year improvements reflect strong operational performance and the benefit of higher precious metals prices during the second half of 2020
•Solid production in-line with full-year guidance ranges - Coeur successfully achieved its consolidated and site-level production guidance for both gold and silver. Gold production in the fourth quarter remained strong at 96,377 ounces, bringing the full-year total to 355,678 ounces. Silver production increased 11% quarter-over-quarter to approximately 2.8 million ounces, largely due to a 38% improvement at Rochester, which helped to drive full-year production to roughly 9.7 million ounces
•Maintained cost and capital discipline - Substantially all of the Company’s site-level unit costs were below or within full-year guidance ranges, reflecting prudent cost management during 2020. Additionally, consolidated figures for capital expenditures, exploration, and general and administrative expenses were also below or within full-year guidance ranges
•Rochester expansion project expected to reposition operation as cornerstone asset - Late in the fourth quarter, Coeur published an updated technical report for its Rochester mine in Nevada which reflects significant reserve growth and the benefits of a larger-scale expansion project. The 18-year, reserve-based mine plan has an expected after-tax net asset value of $634 million with an anticipated internal rate of return of 31%
•Largest exploration program in Company history led to strong reserve and resource growth - The Company completed the largest exploration program in its history during 2020, increasing its investment by 68% to $50.6 million and drilling approximately 783,200 feet (238,700 meters). Proven and probable gold and silver reserves increased 22% and 42%, respectively, while measured and
1
The following information was filed by Coeur Mining, Inc. (CDE) on Wednesday, February 17, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Coeur Mining, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income (Loss)
Acquisitions (Notes)
Acquisitions (Tables)
Acquisitions - Lincoln Hill (Details)
Acquisitions - Northern Empire (Details)
Additional Balance Sheet Detail And Supplemental Cash Flow Information
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Details 1)
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Details 2)
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Details)
Additional Balance Sheet Detail And Supplemental Cash Flow Information (Tables)
Commitments And Contigencies (Details Textual)
Commitments And Contingencies
Debt
Debt (Details Textual)
Debt (Details)
Debt (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Summary Of Classification Of Fair Value Of Derivative Instruments (Details)
Derivative Financial Instruments - Summary Of Classification Of Fair Value On Derivatives Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Derivative Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Mark-To-Market Gain (Losses) On Derivative Instruments (Details)
Derivative Financial Instruments - Summary Of Pre-Tax Gains (Losses) On Derivatives Designated As Cash Flow Hedges (Details)
Derivative Financial Instruments - Summary Of Provisionally Priced Sales (Details)
Discontinued Operations (Notes)
Discontinued Operations - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Assets And Liabilities Carried At Book Value (Details)
Fair Value Measurements - Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Summary Of Gain (Loss) Derivative Instruments (Details)
Fair Value Measurements - Summary Of Level 3 Financial Assets And Liabilities (Details)
Income And Mining Taxes
Income And Mining Taxes (Tables)
Income And Mining Taxes - Deferred Tax Assets And Liabilities (Details)
Income And Mining Taxes - Income (Loss) Before Income Taxes (Details)
Income And Mining Taxes - Income And Mining Tax (Expense) Benefit (Details)
Income And Mining Taxes - Narrative (Details)
Income And Mining Taxes - Reconciliation Of Effective Income Tax Rate (Details)
Income And Mining Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Income And Mining Taxes - Summary Of Tax Credit Carryforwards (Details)
Income And Mining Taxes - Valuation Allowance (Details)
Inventory And Ore On Leach Pads
Inventory And Ore On Leach Pads (Details)
Inventory And Ore On Leach Pads (Tables)
Inventory And Ore On Leach Pads - Narrative (Details)
Investments
Investments (Details)
Investments (Tables)
Investments - Disaggregated Gain (Loss) On Equity Method Investments (Details)
Leases
Leases (Tables)
Leases - Leases - Narrative (Details)
Leases - Summary Of Lease Cost And Cash Flow Information (Details)
Leases - Summary Of Minimum Future Lease Payments (Details)
Leases - Supplemental Balance Sheet Information (Details)
Mining Properties
Mining Properties (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details)
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Summary Of Common Stock Issuance (Details)
Other, Net
Other, Net (Tables)
Other, Net - Summary Of Other Non-Operating (Details)
Other, Net - Summary Of Pre-Development, Reclamation And Other (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details Textual)
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Receivables
Receivables (Details)
Receivables (Tables)
Reclamation
Reclamation (Details)
Reclamation (Tables)
Segment Reporting
Segment Reporting (Details 1)
Segment Reporting (Details 2)
Segment Reporting (Details)
Segment Reporting (Tables)
Segment Reporting - Summary Of Concentration Risk (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Outstanding Stock Options (Details)
Stock-Based Compensation - Performance Shares Activity (Details)
Stock-Based Compensation - Restriced Stock Activity (Details)
Stock-Based Compensation - Share Appreciation Rights (Details)
Stock-Based Compensation - Summary Of Grants Awarded (Details)
Stock-Based Compensation - Valuation Assumptions (Details)
Summary Of Quarterly Financial Data (Unaudited) (Details)
Summary Of Quarterly Financial Data (Unaudited) (Notes)
Summary Of Quarterly Financial Data (Unaudited) (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Summary Of Unearned Income (Details)
Supplemental Guarantor Information
Supplemental Guarantor Information (Tables)
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details)
Supplemental Guarantor Information Condensed Consolidated Statements Of Cash Flows (Details)
Supplemental Guarantor Information Condensed Consolidated Statements Of Comprehensive Income (Loss) (Details)
Write-Downs (Details Textual)
Write-Downs (Details)
Write-Downs (Notes)
Ticker: CDE
CIK: 215466
Form Type: 10-K Annual Report
Accession Number: 0000215466-21-000025
Submitted to the SEC: Wed Feb 17 2021 4:43:14 PM EST
Accepted by the SEC: Wed Feb 17 2021
Period: Thursday, December 31, 2020
Industry: Gold And Silver Ores

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