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Tuesday, January 21, 2020
Coeur Mining (CDE)
Fourth Quarter Production Results Disappoint; Rating Remains 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.
CDE reports fourth quarter 2019 production results. Coeur Mining reported fourth quarter production of 94,716 ounces of gold, 3.2 million ounces of silver, 3.9 million pounds of zinc and 4.0 million pounds of lead. On a year-over year basis, gold and silver production declined 4.8% and 8.6%, respectively, while zinc and lead production increased 25.8% and 135.3%. Sequentially, gold production declined 5.6%, silver production increased 6.7% and zinc and lead production declined 7.1% and 11.1%, respectively. Fourth quarter production results were lower than expected and progress toward improving operational performance at Silvertip has been incrementally slow.
Adjusting estimates. We are lowering our 2019 EPS loss forecast to ($0.30) per share from ($0.22) per share to reflect lower production. Additionally, we are reducing our 2020 EPS and EBITDA estimates to $0.10 and $240.3 million from $0.12 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 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.