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Research coeur mining cde focusing on the real value drivers

Natural Resources
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Monday, February 24, 2020

Coeur Mining (CDE)

Focusing on the Real Value Drivers

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 full year 2019 earnings.  On an adjusted basis, the company reported fourth quarter and full year losses per share of ($0.01) and ($0.25), respectively, compared to our estimates of ($0.06) and ($0.30). Positive fair value adjustments and a tax benefit accounted for the variance to our estimate. Fourth quarter and full year EBITDA were $59.8 million and $173.9 million, respectively. Including non-cash write downs of inventory and asset impairments, the company reported fourth quarter and full year losses per share of ($1.13) and ($1.59), respectively.

Production guidance for 2020. Coeur expects to produce 10.3 million to 13.3 million ounces of silver and 317,000 to 363,000 ounces of gold. In 2019, the company produced 11.7 million ounces of silver, 359,418 ounces of gold, 17.1 million pounds of zinc and 16.6 million pounds of lead. The company is suspending operations at the Silvertip mine due an inability to turn a profit at current zinc and…



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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.
 

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