Brokers Issue Forecasts for Coeur Mining, Inc.’s Q3 2024 Earnings (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) – Analysts at Cormark lifted their Q3 2024 earnings per share estimates for Coeur Mining in a report issued on Thursday, August 8th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.08 per share for the quarter, up from their previous forecast of $0.05. The consensus estimate for Coeur Mining’s current full-year earnings is $0.08 per share. Cormark also issued estimates for Coeur Mining’s Q4 2024 earnings at $0.09 EPS and FY2024 earnings at $0.11 EPS.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. The business had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a report on Friday. BMO Capital Markets upped their price objective on Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a report on Friday, July 12th. Finally, Raymond James upped their price objective on Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.44.

Coeur Mining Trading Up 1.1 %

Shares of CDE opened at $5.44 on Friday. The stock’s fifty day simple moving average is $5.89 and its 200-day simple moving average is $4.61. The firm has a market capitalization of $2.17 billion, a PE ratio of -17.55 and a beta of 1.60. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.55. Coeur Mining has a 12-month low of $2.00 and a 12-month high of $6.82.

Institutional Investors Weigh In On Coeur Mining

Large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Coeur Mining by 831.5% during the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after buying an additional 4,490 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Coeur Mining during the fourth quarter worth about $33,000. Forum Financial Management LP bought a new position in shares of Coeur Mining during the fourth quarter worth about $40,000. Ballentine Partners LLC bought a new position in shares of Coeur Mining during the first quarter worth about $46,000. Finally, StoneX Group Inc. bought a new position in shares of Coeur Mining during the first quarter worth about $49,000. 63.01% of the stock is currently owned by institutional investors.

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.