Tuesday, July 13, 2021
Coeur Mining (CDE)
Updating Estimates Ahead of Second Quarter Earnings Report
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.
Big year for exploration. Coeur recently provided an update on its 2021 exploration programs at Silvertip in British Columbia and the Crown exploration property in Nevada. A new mineralized zone with bulk mining potential was discovered at Silvertip which enhances the high-grade resource potential near the mine. Management expects to release an updated mine plan and economic analysis by year-end. Drill results at Crown continue to affirm significant resource growth potential at the Daisy, Secret Pass, SNA, and C-Horst zones. Coeur expects to complete an optimized resource and financial model for Crown by year-end which will form the basis of an initial economic assessment expected to be released in mid-2022.
Updating estimates. We have lowered our full year 2021 EPS and EBITDA estimates to $0.35 and $280.9 million from $0.45 and $293.4 million, respectively. Our revised estimates reflect additional shares issued during the second quarter associated with Coeur’s investment in Victoria Gold Corp. (TSX, VGCX), modestly higher amortization expense and lower realized gold price assumptions. Our production …
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.
