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Friday, April 24, 2020
Coeur Mining (CDE)
Lowering 2020 Estimates Based on Lower Palmarejo Production 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, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
CDE reports first quarter 2020 earnings. On an adjusted basis, the company reported a first quarter loss of $(0.8) million, or $(0.00) per share compared to $(23.0) million, or $(0.11) per share, during the prior year period. We had forecast earnings of $1.4 million, or $0.01 per share. First quarter adjusted EBITDA amounted to $46.6 million. The earnings variance to our estimate was largely due to lower than projected revenue. On an unadjusted basis, the company reported a loss of $(11.9) million, or $(0.05) per share.
Updating estimates. We now forecast a 2020 loss per share of $(0.03) and EBITDA of $161.3 million compared to our previous estimates of $0.02 and $189.7 million, respectively. The reduction reflects lower production at the Palmarejo mine due to the extension of Mexico’s work restrictions to curb the spread of COV-19 infections. Our 2021 EPS and EBITDA estimates are $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.






