Friday, July 30, 2021

Coeur Mining (CDE)
Under Construction

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 of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Second quarter 2021 financial results. Coeur reported a second quarter adjusted loss of $840 thousand, or ($0.00) per share, compared with earnings of $2.6 million, or $0.01 per share during the prior year period. Adjusted EBITDA were $52.7 million versus $42.2 million during the second quarter of 2020. We had forecast earnings of $11.7 million, or $0.09 per share, and EBITDA of $68.5 million. Including $39.8 million of fair value adjustments such as unrealized mark-to-market gains on Coeur’s investment in Victoria Gold, unadjusted EPS and EBITDA were $0.13 and $84.6 million. Free cash flow amounted to $(20.2) million.


Updating estimates.  We have lowered our 2021 EPS and EBITDA estimates to $0.21 and $249.0 million from $0.35 and $280.9 million. While our production estimates are unchanged, our revised estimates incorporate second quarter earnings and the company’s updated guidance with respect to certain expenses. We forecast 2022 EPS and EBITDA of $0.35 and $279.2 million, respectively …

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.