Precious metals producer Coeur Mining, Inc. (CDE) in Chicago, has five wholly owned operations in North America, which include the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip silver-zinc-lead mine in British Columbia. The company’s gold and silver production increased 2% and 6% respectively, quarter-over-quarter in its fiscal fourth quarter, ended Dec. 31, 2021, to 88,946 ounces and 2.6 million ounces, respectively, but declined from the year-ago values of 96,377 ounces and 2.8 million ounces.
However, Moody’s Investors Service (“Moody’s”) has placed CDE’s ratings (B2 CFR) under review for downgrade. Moody’s outlook represents a change from stable, due mainly to CDE’s announcement of an increase in its estimated capital cost and a delay in the completion of its Rochester mine expansion project, along with a substantial increase in its estimated operating costs at several mines in 2021 and 2022.
