Why Coeur Mining Stock Fell 14% a Day After Reporting Q1 Earnings

Shares of gold and silver miner Coeur Mining (NYSE: CDE) were lower by 14% as of 1 p.m. on Thursday. The company released earnings after the market closed on April 22 and held a conference call the next day. Although the gold and silver miner tried to put a positive spin on the quarter in its earnings release and during the analyst call, there was material negative news in the update, and investors reacted by pushing the shares sharply lower.

Coeur's adjusted earnings were basically breakeven in the quarter, up from a loss of $0.11 per share in the previous year. That was a positive note, buttressed by solid operating performance from a number of its exploration efforts and mines. Notably, gold production at the company's Palmarejo mine, located in Mexico, was up nearly 40% year over year. The mine accounted for roughly 37% of Coeur's overall gold production in the quarter.

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Source Fool.com