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Wednesday November 06, 2019
Coeur Mining (CDE)
Q3 Results Better Than Expected; Increasing Estimates
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 full report for price target, fundamental analysis and rating.
- Quarterly financial results better than expected. The company reported a third quarter adjusted loss of ($0.02) per share, compared to an adjusted loss per share of ($0.11) during the prior year period and our estimate of ($0.07). Adjusted EBITDA amounted to $61.0 million versus $24.7 million during the third quarter of 2018. Free cash flow increased to $11.3 million versus a loss of $33.7 million during the prior year period. Variances to our estimate were predominantly in costs, most notably amortization.
- Increasing 2020 estimates. We are reducing our 2019 loss estimate to ($0.22) per share from ($0.32) per share and increasing our 2020 EPS estimate to $0.10 from $0.04. We project 2019 and...
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 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.