Investments

12 Months Ended

Dec. 31, 2020

Investment in Marketable Securities [Abstract]

INVESTMENTS

Equity Securities

The Company makes strategic investments in equity and debt securities of silver and gold exploration, development and royalty and streaming companies.


	At December 31, 2020
In thousands	Cost		Gross Unrealized Losses		Gross Unrealized Gains		Estimated Fair Value
Equity Securities
Metalla Royalty & Streaming Ltd.	$	166	$	—	$	875	$	1,041
Integra Resources Corp.	7,500		—		4,401		11,901
Other	2		(1)		—		1
Equity securities	$	7,668	$	(1)	$	5,276	$	12,943


	At December 31, 2019
In thousands	Cost		Gross Unrealized Losses		Gross Unrealized Gains		Estimated Fair Value
Equity Securities
Metalla Royalty & Streaming Ltd.	$	10,463	$	—	$	17,725	$	28,188
Integra Resources Corp.	5,000		—		355		5,355
Rockhaven Resources, Ltd.	2,064		(376)		—		1,688
Other	1,304		(889)		—		415
Equity securities	$	18,831	$	(1,265)	$	18,080	$	35,646

On June 30, 2020, the Company completed the sale of 3,910,000 shares of common stock of Metalla Royalty & Streaming Ltd. (“Metalla”) (“Metalla Common Shares”) at a price of $5.30 per Metalla Common Share for gross proceeds of $20.7 million. After transaction related expenses of $1.3 million, the Company recorded a realized gain of $11.6 million on the sale of the Metalla Common Shares. In addition, on June 30, 2020, one of the Company’s subsidiaries completed the repurchase from Metalla of a 0.3875% royalty interest in the Company’s Wharf mine in exchange for 421,554 Metalla Common Shares. Based on the closing price of Metalla Common Shares on June 30, 2020, the Company recorded a realized gain of $1.4 million on the royalty repurchase transaction. In December 2020, the Company completed the sale of 826,200 shares of common stock of Metalla at an average price (net of commission) of $11.33 per Metalla Common Share for net proceeds of $9.4 million for a realized gain of $7.7 million.

On September 14, 2020, the Company participated in an offering of shares of common stock of Integra Resources Corp. (“Integra”) (“Integra Common Shares”), exercising a previously-acquired participation right, and purchased an additional 735,294 Integra Common Shares at a price of $3.40 per Integra Common Share for a total of $2.5 million. Following completion of the transaction, Coeur owned approximately 5.6% of issued and outstanding Integra Common Shares.

In November and December 2020, the Company completed the sale of 15,150,000 shares of common stock of Rockhaven Resources, Ltd. (“Rockhaven Common Shares”) at an average price (net of commission) of $0.08 per Rockhaven Common Share for net proceeds of $1.3 million for a realized loss of $0.8 million.

The following table presents the disaggregated gain (loss) on equity securities recognized in Income (loss) from continuing operations on the Consolidated Statements of Comprehensive Income:


	Year ended December 31,
In thousands		2020		2019		2018
Net gain (loss)		$	7,601	$	16,208	$	2,945
Less: Realized (gain) loss		(19,140)		(860)		(7,964)
Unrealized gain (loss)		$	(11,539)	$	15,348	$	(5,019)