Coeur Mining Inc
Is Silver More Valuable as a Precious Metal or an Industrial Metal?
Silver has been falling over the past few years, despite surging demand for its industrial use. Fundamentally, silver seems to be strong due to rising demand and a year-over-year shortfall in its supply.
Could Gold Catch a Bid if Equities Stay Weak in 2018?
What the markets have long been fearing has finally come true, at least in part. The S&P 500 (SPY) (SPX) hit a record high on January 26, 2018. Since then, the index has fallen ~8% as of February 6, 2018.
Financial Leverage Is Less of a Concern for Coeur Mining’s Investors
Coeur Mining (CDE) repaid $109.3 million of its debt in 3Q16. After this, the company’s interest expenses fell 26% quarter-over-quarter and 35% year-over-year.
Factors That Could Drive Silver Miners’ Valuations in 2017
Coeur Mining (CDE) is trading at a forward EV-to-EBITDA multiple of 6.9x, the lowest multiple in the peer group.
Will Gold Keep a Tab on the Inflation Level?
As precious metals have steadily fallen for the past few weeks, investors have been trying to read the increase in Treasury yields during the same period.
Why Miners Have Outshined Precious Metals
Mining stocks are often known to amplify the returns in precious metals. Small losses for metals can bring exponential losses to metal miners, and vice versa.
How Rebounding Equities Are Affecting Precious Metals
Compared to the substantial gains in precious metals on Tuesday, the gains yesterday were muted. How come?
Which Silver Miners Still Need to Work on Financial Health?
Coeur Mining’s (CDE) debt at the end of 1Q17 was $219.1 million, which is 57.0% lower than at the end of 1Q16.
Coeur Mining Stock Fell despite Q2 2018 Beat
Coeur Mining (CDE) reported its second-quarter earnings on July 25 after the market closed. The company reported an EPS of $0.01.
How Indian Demand Could Influence Gold Prices
India and China remain the top two consumers of gold (IAU) and silver (SLV).
How Miners Performed in 2017
Wheaton is above its 100-day moving average, while Coeur Mining and Eldorado are below their longer-term 100-day moving averages.
Which Silver Miners Could Surprise on the Downside of Production?
Hecla Mining’s (HL) silver production recorded a fall of 27.0% year-over-year (or YoY) to 3.4 million ounces in 1Q17.
How Economic Numbers Played on Gold on April 7
Besides the attack on Syria, the latest rise in gold was also backed by dampened expectations that the Fed will raise interest rates soon.
Why Miners Are Significantly below Their 12-Month Targets
The United Kingdom’s Brexit vote in June 2016 had a significant impact on mining companies and precious metals. Gold and silver rose to two-year highs due to safe-haven bids.
Can Coeur Mining’s Production Levels Keep Accelerating?
In 1Q16, Coeur’s silver and gold production was slightly lower than market expectations. It produced 3.4 million ounces of silver and 78,000 ounces of gold.
Will Interest Rates Have a Substantial Impact on Gold?
The Federal Reserve is expected to raise the interest rate in its March 2018 meeting for what would be the sixth time since late 2015.
Gold Fell as US Interest Rates Soared
Investors were somewhat pessimistic about gold during the last quarter of 2016. Most of the fluctuations were due to the news of the interest rate hike.
Will Gold Keep Clinging to US Interest Rates?
Investors are cautious about investing in gold after the sudden surge over the past three months. The Market sentiment in gold seems to be far from bearish.
Understanding Coeur Mining’s Valuation Catalysts in 2017 and Beyond
Coeur Mining (CDE) is trading at a forward EV-to-EBITDA multiple of 6.9x, which is just higher than Tahoe Resources’ (TAHO) multiple in the peer group.
How Successful Has Coeur Mining Been in Containing Its Costs?
Since 2015, cost discipline has been returning to Coeur Mining (CDE), and the company has been achieving lower costs across all its operations.
What Do Precious Metal Cross-Commodity Spreads Indicate?
The price changes in precious metals—gold, silver, platinum, and palladium—can be studied by using cross-commodity spreads. These spreads utilize gold as the primary metal, connecting its price to silver, platinum, and palladium.
Behind Silver Miners’ Debt Repayment Capacities
Silver companies try to maintain an optimal level of debt-to-equity to lower their costs of capital and maintain an optimum level of risk-reward for shareholders.
As Gold Miner ETFs Rally, Why Are Gold Prices Headed South?
When gold prices fell by 11% in 2015, GDX amplified that loss by returning -25%. In 2016, GDX amplified gold’s gains positively.
How Are Analysts Rating Coeur Mining?
The market consensus rating for Coeur Mining stock is a “buy” from 60.0% of analysts. About 40.0% are recommending a “hold.”
Renaissance Invested in Gold and Silver Mining Stocks in 1Q15
The investment in silver mining stocks appears to be based on the view that the stocks could outperform the market. This is due to a rise in consumer demand for silver.
Which Silver Stock Is Seeing Upgrades These Days?
On October 3, 2016, Deutsche Bank (DB) upgraded Coeur Mining (CDE) from “sell” to “hold.” The firm also increased its target price from $7.50 to $11.
Which Silver Miners Offer a Valuation Upside?
Coeur d’Alene Mines (CDE) is trading at a forward EV-to-EBITDA of 7.6x, which is lower than the average peer multiple of 8.3x.
What Made Coeur Mining Change Its Production Guidance?
Coeur Mining (CDE) achieved a quarterly silver equivalent production of 8.9 million SEO (silver equivalent ounces) in 2Q17.
Analysts Are Optimistic about Coeur Mining
Market sentiment for Coeur Mining Coeur Mining (CDE) is a high-cost producer compared with peers (RING) (SIL). While it has initiated several measures to bring down its costs in the last few years, they remain high. Higher costs make CDE more leveraged to gold and silver prices than other low-cost producers such as Barrick Gold (ABX) […]
Understanding the Debt Repaying Capacities of Silver Miners
High debt isn’t always bad if a company has the capacity to pay back its debt with its earnings.
How Are Silver Miners Doing as Silver Outshines Gold?
Silver has outperformed gold year-to-date (or YTD). The SPDR Gold Shares ETF (GLD) has risen 17% YTD, while the iShares Silver Trust ETF (SLV) has risen 24%.
What Future Growth Options Does AngloGold Really Have?
At its Siguiri gold mine in Guinea, AngloGold Ashanti (AU) is planning to invest about $115 million over the course of two years.
How the Ratings and Potential Upsides for Silver Miners Look Today
The performances of precious metal miners with substantial exposure to silver have been disappointing in 2017. As a group, they’ve returned just 0.9% YTD.
The Market Sentiment for Coeur Mining as 4Q17 Begins
CDE stock has risen 2.6% year-to-date. However, during the same period, silver prices gained 4.7% and the Global X Silver Miners ETF (SIL) rose 5.5%.
Which Silver Miners Can Provide Free Cash Flow Upside Going Forward?
Free cash flow The generation of FCF (free cash flow) is important for precious metal mining companies (RING) (SIL). It helps them invest in projects that can drive long-term value, optimize their financial leverage, and provide shareholder returns. Silver mining companies are constantly trying to reduce their costs and capital expenditures in order to generate FCF. Hecla […]
Gold Prices Are Expected to Trade in a Narrow Range
The Fed rate hike expectation has been one of the biggest factors driving gold prices for some time. Interest rates have been near zero since 2008.
The Most Crowded Trades Today: Assessing Gold’s Benefit
The average cash balance is now 4.8%, which is higher than the ten-year average cash level of 4.5%.
Silver Futures Show a Silver Lining
Recent global unrest and the equity market slump have weighed on silver while the haven appeal that has lifted up gold has also helped silver.
Understanding the Long-Term Growth Drivers for Silver Miners
After years of cutting back on sustained capital expenditure, silver miners—like their gold mining peers—have started to refocus on production growth.
Analyzing Silver Miners’ Relative Valuations
Precious metals miners with substantial exposure to silver are usually classified as silver miners.
Analyst Sentiment for Coeur Mining: Why It’s Changing
The market consensus rating for Coeur Mining stock is a “buy” from 67.0% of analysts. About 33.0% are recommending a “hold.”
Which Silver Miners Need to Get into Better Financial Shape?
While precious metal prices remained buoyant throughout 2016, miners are leaving no stone unturned in their mission to prune their balance sheets.
How Silver Prices Are Influencing Major Silver Miners
Mining companies like First Majestic Silver (AG), Silver Wheaton (SLW), Pan American Silver (PASS), Coeur Mining (CDE), and Hecla Mining (HL) are primarily into silver exploration.
Why Barrick Gold’s Production Matters: What Could Lead to a Downgrade
Barrick Gold (ABX) produced ~1.43 million ounces of gold in 2Q17, which represents a growth of 7% on a year-over-year basis.
Are Analysts Coming Around to Coeur Mining?
The market consensus rating for Coeur Mining stock is split between “buy” and “hold.” Of the nine analysts covering the company, 56% have “buy” recommendations.
Where Are Gold Prices Headed Next?
There are many factors that support higher gold prices in the medium- to long-term.
Are Equity Markets’ Valuations Stretched?
The International Monetary Fund (or IMF) also warned that the downside risks to the world financial stability have increased over the past six months.
These 10 Gold Stocks Matter Now to the Analysts Still Betting on Gold
Gold prices remain under pressure as the demand for alternative investments, including equity stocks and bitcoin, remain strong in the risk-on environment.
Higher Auto Sales in the US Fail to Boost Platinum and Palladium
Platinum futures for April expiry fell by almost 5.4% over the first five trading days of 2016. Palladium futures for March expiry fell by 12.5% YTD.
Why Analysts Love First Majestic Silver the Most
While First Majestic Silver (AG) has seen negative returns year-to-date (or YTD), it has outperformed the Silver Miners (SIL) Index.
Is the Gold-Silver Ratio Headed South?
The gold-silver ratio was trading at 78.7 on Monday, April 11, 2016. The gold-silver ratio is trading close to its 100-day moving average.
Eldorado Gold’s Q2 2018 Earnings and Its Issues in Greece
Eldorado Gold (EGO) stock suffered a great deal in 2017 due to the standoff with the Greek government and some technical issues at its mines in Turkey.
Silver Stocks: Keeping Up with Analyst Rating Changes
Following the recent strong run in silver (SLV), several analysts have commented on silver miners (SIL), as we’ll see in this part of the series.
Why Did Silver Outperform Gold in 2016?
While the last two months of 2016 chipped away a large part of the gains made by precious metals, silver outperformed gold on a yearly basis.
Which Silver Miners Cut Cost Guidance in 3Q16?
Cost discipline and low-cost assets are crucial for silver miners. They help miners navigate lower metal price environments while improving margins and FCF.
Why Gold Mining Stocks Are Trending Higher
As we have pointed out repeatedly this year and discussed in detail in our June update, gold companies are well managed, and gold stocks provide leverage to gold since valuations remain attractive. Therefore, it is no surprise that stocks enjoyed another surge higher in July. The NYSE Arca Gold Miners Index[1. NYSE Arca Gold Miners Index (GDMNTR) […]
What to Expect from Eldorado Gold’s Q3 Conference Call
Eldorado Gold (EGO) stock lost significantly in 2017 due to the standoff with the Greek government and some technical issues at its mines in Turkey.
Which Silver Miner Offers Optimal Geographic Exposure?
Given rising taxes, royalties, changes to mining codes, and asset nationalizations in the past few years, many big mining projects have become uneconomical.
Which Gold Miners Benefitted Most from the 1H16 Gold Rush?
Gold prices rose 23% in the first half of 2016, making gold one of the best-performing investments so far this year.
Can Federal Funds Futures Hint at the Direction of Gold Prices?
Federal funds futures, which are used to hedge the interest rate risk, are factoring in a maximum of one interest rate hike by the end of 2016.
Technical Indicators in Silver: An Oversold Position in 2017?
Coeur Mining (CDE), Hecla Mining (HL), and Pan American Silver (PAAS) are trading 3.3, 7.9%, and 2.6%, respectively below their 50-day moving averages.
These Silver Miners Could Offer a Free Cash Flow Upside in 4Q16 and Beyond
FCF generation is vital for precious metal miners because it helps them invest in long-term value projects, optimize financial leverage, and offer returns.
How Has the Analyst Sentiment Changed for Silver Miners?
Among primary silver miners, Tahoe Resources (TAHO) seems to be an analyst favorite, with the highest “buy” ratings at 100% and no “sell” ratings.
What High US Equity Market Valuations Mean for Gold
One asset class that is still riding on “Trump trade” appears to be US equities —tech stocks, in particular.
Outlook: IAMGOLD’s Stock Momentum after Its Q3 2018 Results
IAMGOLD (IAG) was the best-performing gold stock of 2017, returning 51.4% for the year.
Behind Coeur Mining’s Free Cash Flow Drivers in 2H17
Coeur Mining’s (CDE) management is focused on generating significant FCF (free cash flow). It generated FCF of -$8.2 million in 2Q17.
Inside Silver Mining Stock Ratings: What Led the Downgrades
BMO Capital Markets, Credit Suisse (CS), RBC Capital Markets, TD Securities, and Macquarie have all downgraded Tahoe Resources stock.
Outlook: IAMGOLD’s Stock Momentum after Q2 2018 Results
IAG is guiding for gold production of 850,000–900,000 ounces for 2018.
Are Technical Indicators Pointing to a Pullback in Silver Mining Stocks?
Among the five major silver miners under discussion in this series, only Pan American Silver has given positive stock returns in the trailing-three-month period.
Tracking Precious Metals’ Cross-Commodity Rates
The turbulence in worldwide markets has helped precious metals, especially gold and silver, to reach new highs that we haven’t seen in the last few months.
What Put Coeur Mining in 2nd Place?
Right now, of the nine Wall Street analysts covering CDE stock, according to Thomson Reuters, 78% recommend a “buy,” while 22% recommend a “hold.”
What’s Driving Analysts’ Sentiment toward Coeur Mining?
Even though its cost-cutting efforts were impressive in 2015 and 2016, Coeur is still producing at higher costs than many of its peers.
Understanding Silver Miners’ Financial Leverage after 2Q17
As precious metal prices came under pressure after 2011, miners focused their attention on reducing their financial leverages.
Do the Decreasing Bullion Prices Have an Increasing Spread?
With a positive outlook for the US economy, there is little hope that precious metals will see a remarkable upward move. The strengthening US dollar is making gold investors jittery.
How Silver Miners Are Reacting to the Slump in Silver
Precious metals have risen over the past few days, supporting mining companies.
The Technicals for Precious Metals in February 2018
All four precious metals rose significantly on February 22 after pricing in the effects of the Fed minutes on the previous day.
How Are Miners Tracking Their Correlation to Gold?
Precious metals mining stocks are tied to metals. In order to understand precious metals’ performance, it’s crucial to analyze precious metal companies.
Assessing Silver and Gold in 2015
Silver was the second best-performing precious metal in September, advancing by 11.40% on a 30-day trailing basis. But October has seen negative returns.
What’s Driving Silver’s Growth?
Silver has successively risen in the current year and is now the best-performing precious metal.
Miners Traded Significantly above Their 100-day Moving Averages
With the rally in precious metals, precious metal mining stocks benefited the most. Among the miners, the South African miners outperformed.
How Silver Mining Companies Are Performing
The current turmoil in the stock markets has hurt most market participants. Investors are thus opting for safer investments like gold and silver.
Mining Stocks Gave Mixed Reactions to Global Tensions
On Tuesday, January 5, mining companies gave a mixed reaction to the continued rise in precious metals.
How the 1.1% Slump in the Dollar Buoyed Precious Metals
The rise in precious metals on Tuesday, June 27, 2017, was also due to the slump in the US dollar.
Goldcorp Misses Second-Quarter Earnings Estimates
Goldcorp (GG) reported its second-quarter earnings on July 25 after the market closed.
Barrick Gold’s Merger Could Drive Its Production Going Forward
Production growth is a crucial variable for miners. Along with realized metal prices, production growth drives a company’s top line.
Will Silver Miners’ Multiples Expand after a Long Dry Spell?
On November 14, 2018, Pan American Silver announced that it was buying Tahoe Resources in a $1.07 billion cash and stock deal.
Which Silver Miners Look Primed for a Rebound after a Dry Spell?
Of all the major silver stocks, Tahoe Resources (TAHO) is trading at the lowest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 3.3x.
Why Execution on Growth Projects Will Be Key for IAMGOLD Stock
CEO Steve Letwin stated during IAMGOLD’s third-quarter earnings call that it’s focused on becoming a low-cost producer.
What’s Driving Production Growth for Barrick Gold?
Production growth is a crucial variable for miners. Along with realized metal prices, it drives a company’s top line.
Which Gold Miners Look Promising as Gold Rebounds?
While gold miners have been out of favor for a long time, that may be about to change. As uncertainty in the market is increasing, gold prices are poised to rise.
Why Coeur Mining Has Climbed the Ranks among Analysts
Year-to-date, Coeur Mining (CDE) has almost matched the performance of the Silver Miners Index (SIL) with losses of 25%.
Which Silver Miners Look Reasonable at Current Valuations?
Of all the stocks we’ve covered in this series, Tahoe Resources (TAHO) is trading at the lowest enterprise-value-to-forward-EBITDA multiple of 3.5x.
Can Tahoe Resources Regain Analysts’ Lost Favor?
YTD (year-to-date), Tahoe Resources (TAHO) has had the worst performance of all silver miners with losses of 44%.
Why Analysts Are Optimistic about Coeur Mining
On a YTD basis, Coeur Mining (CDE) has almost matched the performance of the Silver Miners’ Index (SIL) with losses of 27.1%.
How Do Analysts Rate Silver Miners?
In 2018 so far, silver prices have significantly underperformed gold prices.
Barrick Gold’s Production Growth Profile Is Declining
Barrick Gold (ABX) produced ~1.07 million ounces of gold in the second quarter, which reflects a decline of ~25.0% year-over-year.
What’s the Impact of Interest Rates on Precious Metals?
Monetary policies have been crucial in determining the movement in precious metals.
Why Tahoe Resources Has Lost Favor with Analysts
YTD, Tahoe Resources (TAHO) has risen 3.5%. Its “buy” ratings are only better than Hecla Mining (HL).
Why Analysts Like First Majestic Silver the Most
First Majestic Silver (AG) is one of the few silver miners (SIL) to have a double-digit return YTD. Its stock has risen 10.8% as of June 26.
Analyzing Analysts’ Love-Hate Relationship with Silver Stocks
The five silver miners we’ll be discussing in this series have broadly outperformed silver prices and the silver miners’ index YTD.