Monday, September 14, 2020
Coeur Mining (CDE)
Increasing Estimates; Upgrading to Outperform
Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, rochester, wharf, and kensington. Its projects are located in the United States, Canada and Mexico, and North America.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Increasing estimates. Following a review of our third quarter estimates, we are increasing our 2020 EPS and EBITDA estimates to $0.07 and $191.8 million from $0.05 and $190.6 million, respectively. Additionally, we have raised our 2021 EPS and EBITDA estimates to $0.28 and $279.9 million from $0.23 and $251.9 million, respectively. Our increased estimates reflect gross margin improvement due to higher commodity prices and reductions in some expense items, including amortization.
Constructive metals price outlook. In our view, the outlook for gold and silver prices remains favorable albeit with anticipated volatility. We think gold prices in the range of $1,750 to $2,000 and silver in the mid-$20s appear durable and we believe the macroeconomic outlook could support an upward trend with …
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.