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

Coeur Mining, Inc. (NYSE:CDE) – Research analysts at Cormark boosted their Q3 2024 earnings per share (EPS) estimates for shares of Coeur Mining in a research note issued to investors on Thursday, August 8th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.08 per share for the quarter, up from their prior 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.

A number of other analysts have also commented on CDE. BMO Capital Markets boosted their price objective on Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a report on Friday, July 12th. Roth Mkm reissued a “buy” rating and set a $8.00 price objective (up from $7.25) on shares of Coeur Mining in a report on Friday. Raymond James upped their target price on Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday. Finally, Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Coeur Mining Stock Performance

Shares of CDE opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99. The stock has a 50 day moving average price of $5.89 and a two-hundred day moving average price of $4.61. The firm has a market capitalization of $2.17 billion, a P/E ratio of -17.55 and a beta of 1.60. Coeur Mining has a 52 week low of $2.00 and a 52 week high of $6.82.

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

Hedge Funds Weigh In On Coeur Mining

Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake 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 valued at $145,616,000 after purchasing an additional 2,345,791 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $116,885,000 after purchasing an additional 3,989,352 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Coeur Mining by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock valued at $52,445,000 after purchasing an additional 84,920 shares during the last quarter. Tidal Investments LLC purchased a new position in Coeur Mining in the first quarter valued at approximately $41,587,000. Finally, American Century Companies Inc. lifted its position in shares of Coeur Mining by 248.1% during 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 acquiring an additional 4,606,711 shares in the last quarter. Hedge funds and other institutional investors 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.