Friday, July 31, 2020
Coeur Mining (CDE)
Looking for a More Attractive Entry Point
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.
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CDE reports second quarter 2020 earnings. On an adjusted basis, the company reported second quarter earnings of $2.6 million, or $0.01 per share compared to a loss of $23.0 million, or $(0.11) per share, during the prior year period and our estimate of $(0.04). The variance to our estimate was due to lower costs applicable to sales and amortization. Second quarter adjusted EBITDA amounted to $42.2 million. On an unadjusted basis, the company reported a loss of $1.2 million, or $(0.01) per share.
Updating estimates. Coeur forecasts 2020 gold production to be in the range of 327 thousand to 363 thousand ounces and silver production in the range of 9.5 million to 11.5 million ounces. In 2019, gold and silver production amounted to 359.4 thousand ounces and 11.7 million ounces, respectively. We are increasing our 2020 and 2021 EPS estimates to …
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This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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