Movers and SHAKERS
Coeur Mining (CDE)
Soaring Past Third Quarter Expectations
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.
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CDE reports third quarter 2020 earnings. On an adjusted basis, the company reported third quarter earnings of $38.2 million, or $0.16 per share compared to a loss of $5.3 million, or $(0.02) per share, during the prior year period and our estimate of $0.03. The variance to our estimate was due to higher production and lower costs. Third quarter adjusted EBITDA amounted to $90.8 million. Excluding adjustments, including expenses related to COVID-19 mitigation, earnings per share amounted to $0.11, while EBITDA were $77.3 million. Third quarter cash flow from operations increased to $79.5 million from $52.9 million during the prior year period, while free cash flow increased to $56.5 million from $11.3 million.
Updating estimates. Coeur forecasts 2020 gold production to be in the range of 334.5 to 368.0 thousand ounces (up from 327.0 to 363.0 thousand) and silver production in the range of 9.1 to 10.7 million ounces (down from 9.5 to 11.5 million). We are increasing our 2020 and 2021 EPS estimates to $0.30 and $0.55 from $0.07 and $0.28, respectively. The revisions are largely based on higher production ...
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.