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Coeur D'alene Mines (CDE)
NYSE:CDE
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Coeur Mining
(NYSE:CDE)
74Outperform
Positive Factors
Acquisition Impact
The acquisition of SilverCrest Metals adds consistent, low-cost silver-equivalent production, transforming Coeur into a top silver producer.
Leverage and Financial Position
Significant de-leveraging is expected driven by the Rochester expansion and the recent acquisition.
Production and Expansion
The Rochester expansion achieved nameplate production, and shares are expected to trade at improved multiples as cash flows increase and leverage decreases.
Negative Factors
Debt Levels
Coeur exited Q3/24 with $605 million in debt, highlighting ongoing financial obligations.
Earnings Performance
Q4 EPS of $0.11 was below consensus estimates, and production of gold and silver was modestly below forecasts.
Revenue Results
Revenue of $305M was below the estimate, partly offset by cost of sales, which was lower than expected.
Coeur Mining (CDE) vs. S&P 500 (SPY)
Market Cap
$3.39B
Dividend YieldN/A
Average Volume (3M)17.53M
Price to Earnings (P/E)37.9
Beta (1Y)1.97
Revenue Growth41.79%
EPS GrowthN/A
CountryUS
Employees2,116
SectorBasic Materials
Sector Strength60
IndustryGold
Share Statistics
EPS (TTM)0.11
Shares Outstanding638,902,800
10 Day Avg. Volume14,559,200
30 Day Avg. Volume17,527,624
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.84
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit8.84
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$8.92Price Target Upside27.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
Coeur Mining Business Overview & Revenue Model
Company DescriptionCoeur Mining, Inc. is a well-established, publicly traded precious metals mining company based in the United States. It primarily focuses on the discovery, development, and operation of gold and silver mineral properties. With a diverse portfolio of mines located in North America, including key operations in Nevada, Alaska, and South Dakota, Coeur Mining is committed to responsible mining practices and sustainable development. The company employs advanced mining techniques and technologies to maximize resource extraction while minimizing environmental impact.
How the Company Makes MoneyCoeur Mining generates revenue through the extraction, production, and sale of gold and silver from its mining operations. The company's primary revenue streams include the sale of these precious metals, which are priced based on current market conditions. Coeur Mining also engages in exploration activities to discover new mineral reserves, which can lead to increased production capacity and future revenue growth. Additionally, the company may enter into joint ventures or strategic partnerships to enhance operational efficiency and share in the development costs of new mining projects. By focusing on optimizing production processes and managing costs, Coeur Mining aims to maximize profitability and shareholder value.
Coeur Mining Financial Statement Overview
Summary
Coeur Mining's financial performance has improved significantly, marked by revenue growth, profitability, and a strong balance sheet with no debt. However, cash flow challenges persist due to high capital expenditures, which could impact future flexibility. While the overall trajectory is positive, maintaining this momentum will require continued operational efficiency and strategic capital management.Income Statement
Coeur Mining showed significant improvement in its income statement metrics. The gross profit margin increased with a substantial rise in total revenue, indicating better operational efficiency. The net profit margin turned positive, reflecting a turnaround from losses in previous years. Revenue growth rate was robust year-over-year, driven by increased commodity prices and operational efficiency. However, historical volatility in EBIT and EBITDA margins suggests potential risks.―
Balance Sheet
The balance sheet exhibits a strong equity position with no total debt, improving the debt-to-equity ratio significantly. Stockholders' equity has increased, enhancing the equity ratio and indicating a healthy financial structure. Return on equity has turned positive, reflecting profitability improvements. The transition from leveraging debt to maintaining high equity levels reduces financial risk.80
Cash Flow
Cash flow from operations improved, yet free cash flow remained negative due to high capital expenditures. The operating cash flow to net income ratio is solid, showcasing efficient cash conversion. However, the free cash flow to net income ratio indicates challenges in generating positive free cash flow despite net income improvements, suggesting a need for better capital expenditure management.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 1.05B | 821.21M | 785.64M | 832.83M | 785.46M | Gross Profit |
| 322.84M | 88.49M | 67.48M | 192.97M | 213.74M | EBIT |
| 164.18M | -36.11M | 27.08M | 29.80M | 75.78M | EBITDA |
| 300.24M | 76.87M | 85.21M | 160.39M | 226.52M | Net Income Common Stockholders |
| 58.90M | -103.61M | -78.11M | -31.32M | 25.63M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 55.09M | 61.63M | 93.50M | 56.66M | 92.79M | Total Assets |
| 2.30B | 2.08B | 1.85B | 1.73B | 1.40B | Total Debt |
| 601.66M | 555.28M | 515.93M | 487.50M | 275.50M | Net Debt |
| 546.57M | 493.65M | 454.47M | 430.84M | 182.71M | Total Liabilities |
| 1.18B | 1.06B | 957.13M | 934.16M | 710.50M | Stockholders Equity |
| 2.17B | 1.02B | 889.02M | 800.26M | 693.48M |
| Cash Flow | Free Cash Flow | |||
| -8.95M | -297.33M | -326.74M | -199.30M | 49.43M | Operating Cash Flow |
| 174.23M | 67.29M | 25.62M | 110.48M | 148.71M | Investing Cash Flow |
| -193.51M | -303.70M | -146.16M | -304.08M | -65.67M | Financing Cash Flow |
| 13.89M | 236.05M | 125.03M | 158.14M | -46.53M |
Coeur Mining Technical Analysis
Positive
6.97
Price Trends
5.76
Positive
6.02
Positive
6.21
Positive
Market Momentum
0.04
Negative
68.29
Neutral
83.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDE, the sentiment is Positive. The current price of 6.97 is above the 20-day moving average (MA) of 5.82, above the 50-day MA of 5.76, and above the 200-day MA of 6.21, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 68.29 is Neutral, neither overbought nor oversold. The STOCH value of 83.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CDE.
Coeur Mining Risk Analysis
Coeur Mining disclosed 38 risk factors in its most recent earnings report. Coeur Mining reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coeur Mining Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $11.62B | 34.97 | 13.03% | 0.93% | 18.77% | 38.55% | |
76 Outperform | $9.68B | 16.10 | 25.19% | 0.86% | 20.35% | 20.44% | |
74 Outperform | $3.39B | 37.87 | 6.44% | ― | 41.79% | ― | |
72 Outperform | $1.29B | 13.36 | 24.89% | 1.38% | 22.63% | 28.96% | |
59 Neutral | $3.12B | 43.11 | 3.49% | 0.77% | 41.04% | ― | |
49 Neutral | $1.94B | -1.23 | -21.28% | 3.73% | 1.19% | -29.73% | |
47 Neutral | $3.43B | ― | -15.89% | ― | -0.71% | 80.26% |
* Basic Materials Sector Average
Performance Comparison
CDE
Coeur Mining
6.97
1.68
31.76%
DRD
Drdgold
14.88
6.42
75.89%
HMY
Harmony Gold Mining
15.22
6.11
67.07%
HL
Hecla Mining Company
4.92
-0.40
-7.52%
RGLD
Royal Gold
178.72
53.00
42.16%
SBSW
Sibanye Stillwater
4.98
-0.06
-1.19%
Coeur Mining Earnings Call Summary
Earnings Call Date:May 07, 2025
(Q1-2025)
| % Change Since: 21.64%|
Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong financial performance with consecutive profitable quarters, significant debt reduction, and successful integration of Las Chispas. However, challenges remain in optimizing Rochester's crushing circuit and there are accounting impacts from the SilverCrest acquisition. Despite these challenges, the positive outcomes and growth prospects outweigh the lowlights.Q1-2025 Updates
Positive Updates
Strong Financial Performance
Fourth consecutive quarter of positive EPS, positive free cash flow, and net income of $33 million. Revenue of $360 million and adjusted EBITDA of $149 million with a margin increase to 41%.
Debt Reduction
Eliminated nearly $130 million of debt and metal prepaid facilities; revolving credit facility reduced to $110 million drawn, with expectations to repay the remainder by Q3 2025.
Production Growth
Total gold production of nearly 90,000 ounces and 4 million ounces of silver sold during the quarter.
Las Chispas Integration
Smooth integration of Las Chispas with strong high-grade production, adding 74,000 ounces of silver and over 7,000 ounces of gold to the portfolio.
Exploration Success
Significant discovery of a new vein 'Augusta' at Las Chispas and other high-grade results in the Gap zone.
Cost Management
Maintained cost per ounce essentially flat year-over-year despite significant price increases in gold (41%) and silver (36%).
Negative Updates
Rochester Crushing Circuit Challenges
Crusher performance improvements needed with a focus on optimization of the three-stage crushing circuit to enhance availability and recovery rates.
Accounting Adjustments
Impacts on net income due to accounting for inventory at fair value leading to higher cost applicable to sales, and deferred tax liabilities from the SilverCrest acquisition.
Weather Challenges at Wharf
Weather created challenges affecting production at Wharf, although overall performance was slightly higher than the previous year.
Company Guidance
During the Coeur Mining First Quarter 2025 Financial Results Conference Call, the company provided an optimistic outlook for the year, driven by anticipated growth in silver and gold production from its five North American operations. The company aims to achieve a full-year adjusted EBITDA exceeding $700 million and free cash flow surpassing $300 million, targeting a year-end leverage ratio close to zero. This marks a significant improvement from a few quarters ago when the adjusted EBITDA was about $100 million, with negative free cash flow of $300 million and a leverage ratio over four times. The integration of Las Chispas contributed to the quarter's strong performance, with partial first-quarter production achieving 74,000 ounces of silver and over 7,000 ounces of gold at low costs. Overall, Coeur Mining is well-positioned for a record year, focusing on debt reduction and engaging with shareholders to explore per-share value generation opportunities.Coeur Mining Corporate Events
M&A TransactionsShareholder Meetings
Coeur Mining Completes Acquisition of SilverCrest Metals
Positive
Feb 14, 2025
On February 14, 2025, Coeur Mining, Inc. announced the completion of its acquisition of SilverCrest Metals Inc., pursuant to an agreement from October 2024. SilverCrest shareholders received 1.6022 shares of Coeur for each SilverCrest share. To facilitate the transaction, Coeur amended its certificate of incorporation to increase its authorized shares to 900 million, following shareholder approval. This acquisition is expected to influence Coeur’s production and cost guidance for 2025, which will be detailed in its upcoming financial results release.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.