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Thursday, December 19, 2019
Coeur Mining (CDE)
Exploration Efforts to Increase in 2020; Focus on Resource Discovery and Conversion
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.
Coeur releases updates on 2019 exploration program. The central message is that management considered the 2019 exploration program productive, particularly with respect to expansion drilling at Palmarejo, Kensington, Silvertip, and the Sterling and Crown Block properties. Spending was lower in 2019 versus the prior year due to a greater focus on near-mine exploration and the company intends to focus on discovering new resources and converting resources to reserves in 2020.
Exploration expenditures expected to increase in 2020. Coeur expects full year spending in 2019 to be $26 million to $34 million versus $41.9 million and $44.0 million in 2017 and 2018, respectively. We think 2020 spending will be more in line with 2017 and 2018 based on more expansion drilling. We do not expect much change in...
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.