Coeur Mining, Inc. Forecasted to Earn FY2024 Earnings of $0.18 Per Share (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) – Equities researchers at Roth Capital upped their FY2024 earnings estimates for Coeur Mining in a research report issued on Monday, October 7th. Roth Capital analyst J. Reagor now expects that the basic materials company will post earnings per share of $0.18 for the year, up from their prior estimate of $0.05. The consensus estimate for Coeur Mining’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for Coeur Mining’s Q4 2024 earnings at $0.14 EPS and Q1 2025 earnings at $0.20 EPS.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The business had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Raymond James increased their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Canaccord Genuity Group increased their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday. Roth Mkm increased their price target on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets increased their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $6.19 on Wednesday. Coeur Mining has a fifty-two week low of $2.00 and a fifty-two week high of $7.72. The company has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $5.65. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -19.95 and a beta of 1.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in Coeur Mining by 6.5% in the first quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after purchasing an additional 2,345,791 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Coeur Mining by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after purchasing an additional 3,989,352 shares during the last quarter. Tidal Investments LLC purchased a new stake in Coeur Mining in the first quarter worth approximately $41,587,000. American Century Companies Inc. boosted its holdings in Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after purchasing an additional 72,423 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.