On Thursday, Coeur Mining Inc shares (NYSE:CDE) saw its price target raised by Roth/MKM from $5.40 to $5.60, with the firm maintaining a Buy rating on the stock. This adjustment comes following the company's release of its first-quarter financial and operational results for the year 2024.
Coeur Mining reported its Q1 2024 results on Wednesday, May 1, 2024, which were described as mixed when compared to expectations. Still, the results also showed operational improvements. Based on these outcomes, Roth/MKM expressed optimism about the company's performance moving forward into the second quarter and beyond.
The firm's decision to increase the price target reflects their confidence in the ongoing positive trend in Coeur Mining's operations. The maintained Buy rating indicates that Roth/MKM continues to see the stock as a good investment opportunity.
Coeur Mining is involved in the exploration, development, and production of precious metals. The company's recent operational advancements have been significant enough to warrant a slight increase in the price target by the analyst firm.
Investors and market watchers will be keeping an eye on Coeur Mining to see if the company can continue to meet or exceed operational expectations in the coming quarters, as suggested by the analyst firm's outlook.
InvestingPro Insights
Following the latest financial and operational results from Coeur Mining Inc (NYSE:CDE), analysts at Roth/MKM have raised their price target for the company's stock. In light of this development, it's valuable to consider additional insights provided by InvestingPro. Coeur Mining's market cap stands at a solid $1.88 billion, reflecting the company's substantial presence in the precious metals sector.
Despite a challenging past twelve months with no profitability and a high EBITDA valuation multiple, analysts predict profitability for the company this year. This anticipation is supported by a notable revenue growth of 7.96% over the last twelve months as of Q1 2024, with a more impressive quarterly revenue growth of 13.75% in Q1 2024.
The company's shares have experienced a strong return over the last three months, soaring by 67.15%, with a significant six-month price uptick of 90.04%. This momentum is further evidenced by a year-to-date price total return of 40.49%. Still, it is important to note that Coeur Mining does not pay a dividend, which may be a consideration for income-focused investors.
For those seeking a deeper analysis, there are additional InvestingPro Tips available that could further inform investment decisions. For instance, with Coeur Mining's next earnings date on August 7, 2024, these tips could provide timely insights. InvestingPro users can access these tips and more by using the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 6 more InvestingPro Tips available for Coeur Mining, which could be highly beneficial for investors aiming to make well-informed decisions.
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