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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and nine months ended September 30, 2024, there were 29,130 and 103,916 common stock equivalents, respectively, related to equity-based awards that were not included in the diluted earnings per share calculation as the shares would be antidilutive. Similarly, 1.1 million and 1.6 million common stock equivalents were excluded in the diluted earnings per share calculation for the three and nine months ended September 30, 2023, respectively.
| Three months ended September 30, |  | Nine months ended September 30,
In thousands except per share amounts | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Net income (loss) available to common stockholders | $ | 48,739 |  |  | $ | (21,109) |  |  | $ | 21,048 |  |  | $ | (78,107) |  |  |
Weighted average shares: |  |  |  |  |  |  |  |  |
Basic | 393,969 |  |  | 356,676 |  |  | 390,936 |  |  | 330,440 |  |  |
Effect of stock-based compensation plans | 6,869 |  |  | — |  |  | 5,442 |  |  | — |  |  |
Diluted | 400,838 |  |  | 356,676 |  |  | 396,378 |  |  | 330,440 |  |  |
Income (loss) per share: |  |  |  |  |  |  |  |  |
Basic | $ | 0.12 |  |  | $ | (0.06) |  |  | $ | 0.05 |  |  | $ | (0.24) |  |  |
Diluted | $ | 0.12 |  |  | $ | (0.06) |  |  | $ | 0.05 |  |  | $ | (0.24) |  |  |
On February 26, 2024, the Company entered into subscription agreements (the “Subscription Agreements”) with certain Canadian accredited investors (the “Investors”) for a private placement offering (the “Private Placement Offering”) of an aggregate of 7,704,725 shares of common stock, par value $0.01 per share, to be issued as “flow-through shares,” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “FT Shares”), which closed on March 8, 2024. The proceeds of the Private Placement Offering will be used for certain qualifying “Canadian Exploration Expenditures” (as such term is defined in the Income Tax Act (Canada)) at the Company’s Silvertip exploration project. The initial Private Placement Offering raised net proceeds of $23.7 million, of which $0.9 million represents net proceeds received in excess of the Company’s trading price (“FT Premium Liability”). During the nine months ended September 30, 2024, the Company recognized a portion of the FT Premium Liability associated with the prior year private placement offering of flow-through shares resulting in income of $5.2 million included in Other, net. The FT Premium Liability is included in Accrued liabilities and other on the Condensed Consolidated Balance Sheet and will decrease in subsequent periods as certain qualifying “Canadian Exploration Expenditures” are incurred. The FT Shares were not registered under the Securities Act and were offered and sold outside the United States to accredited investors in reliance on Regulation S and/or Regulation D of the Securities Act.

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