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Tuesday, December 10, 2019
Coeur Mining (CDE)
Increasing 2020 Estimates; Maintaining Outperform Rating
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 the price target, fundamental analysis, and rating.
Increasing 2020 estimates. We are increasing our 2020 EPS and EBITDA estimates to $0.13 and $265.8 million from $0.10 and $256.2 million, respectively. The drivers are modestly higher production and lower operating costs. We expect additional gains in productivity at Silvertip and cost improvement at Rochester due to the deployment of the high-pressure grinding roll technology.
Well-positioned going into 2020. Third-quarter performance was much improved relative to the prior-year period and second quarter of 2019 due to higher average gold and silver prices and strong mine operating performance from Rochester and Wharf, along with continued improvement at Silvertip. Additionally, the company has significantly reduced debt, increased its cash position 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.