Analysts Set Expectations for Coeur Mining FY2024 Earnings

Coeur Mining, Inc. (NYSE:CDE) – Equities researchers at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of Coeur Mining in a report issued on Monday, November 11th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $0.20 per share for the year, down from their prior forecast of $0.21. The consensus estimate for Coeur Mining’s current full-year earnings is $0.15 per share. National Bank Financial also issued estimates for Coeur Mining’s FY2025 earnings at $0.64 EPS.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The business’s revenue was up 61.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS.

CDE has been the subject of a number of other reports. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. BMO Capital Markets raised their target price on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Roth Mkm reaffirmed a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Finally, Canaccord Genuity Group upped their target price on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Performance

CDE stock opened at $6.14 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.45 billion, a P/E ratio of -207.93 and a beta of 1.65. Coeur Mining has a 12-month low of $2.39 and a 12-month high of $7.72. The stock’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.06.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDE. BNP Paribas Financial Markets grew its holdings in Coeur Mining by 149.1% in the 1st quarter. BNP Paribas Financial Markets now owns 323,988 shares of the basic materials company’s stock valued at $1,221,000 after buying an additional 193,912 shares during the last quarter. SG Americas Securities LLC grew its holdings in Coeur Mining by 247.7% in the 1st quarter. SG Americas Securities LLC now owns 113,038 shares of the basic materials company’s stock valued at $426,000 after buying an additional 80,531 shares during the last quarter. Swiss National Bank grew its holdings in Coeur Mining by 8.5% in the 1st quarter. Swiss National Bank now owns 755,500 shares of the basic materials company’s stock valued at $2,848,000 after buying an additional 59,500 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Coeur Mining by 32.4% in the 1st quarter. Russell Investments Group Ltd. now owns 24,337 shares of the basic materials company’s stock valued at $92,000 after buying an additional 5,956 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Coeur Mining by 17.6% in the 1st quarter. ProShare Advisors LLC now owns 64,488 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 9,648 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.