Coeur Mining (CDE) Just Topped $1B in Quarterly Revenue. Can It Last?

Coeur Mining (NYSE:CDE) broke its own record with $1 billion in quarterly revenue on August 6, marking its biggest quarter ever. The milestone was fueled by the first full quarter of operations at newly acquired mines New Afton and Rainy River. The company also posted a record free cash flow of $388 million and began paying a dividend for the first time in 30 years.

However, reported earnings were affected by an accounting quirk, with lower realized gold and silver prices and higher expenses due to diesel costs. Despite these challenges, Coeur expanded its buyback authorization and paid its first dividend. Management is optimistic about the growth potential, especially in the second half of the year.

The stock trades at a reasonable forward P/E of 11.21, indicating that the market may not yet fully recognize the cash flow story.