Coeur Mining says production improved in 2Q

Coeur Mining says gold and silver production grew in 2nd quarter; shares trade higher

Associated Press

NEW YORK (AP) -- Coeur Mining Inc. said Tuesday that gold and silver production improved during the second quarter, and its shares climbed in afternoon trading.

The Chicago company's silver production grew by 21 percent and gold production increased by 7 percent. That amounts to 4.6 million ounces of silver and 60,757 ounces of gold. Coeur Mining said those totals also represent improvements over the first quarter of 2013.

Coeur Mining shares rose 57 cents, or 4.7 percent, to $12.65. The company, formerly known as Coeur d'Alene Mines, is scheduled to report full quarterly results on Aug. 8.

For the full year the company still expects to produce between 18 million and 19.5 million ounces of silver and 250,000 to 265,000 ounces of gold.

Coeur Mining reported disappointing third-quarter results on Nov. 6, taking a loss as production and sales of silver and gold dropped. The company's shares have lost more than half their value since then. On July 9 the stock fell to $11.29, its lowest price in almost four years.

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