Monday, January 31, 2022
Coeur Mining (CDE)
Pullback Presents More Attractive Entry Point
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 of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Rating raised. We are establishing a price target which represents 17.5% price appreciation potential based on the recent closing price. While capital expenditures are expected to remain elevated in 2022 due to the Rochester expansion, we expect it to be completed in mid-2023 and think the current valuation will improve as it nears production.
Adjusting estimates. We have lowered our 2021 and 2022 EPS estimates to $0.08 and $0.28 from $0.10 and $0.32, respectively and EBITDA estimates to $218.4 million and $249.7 million from $223.0 million and $267.4 million. Our 2021 estimates reflect modestly lower fourth quarter revenue, while 2022 estimates reflect higher operating expenses. Coeur will report fourth quarter and full-year 2021 …
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.
