Coeur Mining (NYSE:CDE) Stock, Quote.Headers.trade-ideas

Coeur Mining

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, Rochester, Wharf, and Kensington. Its projects are located in the United States, Canada Mexico, and North America.

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Across the recent three months, 5 analysts have shared their insights on Coeur Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $6.9, a high estimate of $8.00, and a low estimate of $5.75. This upward trend is evident, with the current average reflecting a 11.29% increase from the previous average price target of $6.20.
<img src="https://www.benzinga.com/files/images/story/2024/1726840863_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Coeur Mining among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brian MacArthur</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$7.00</td>
<td>$6.25</td>
</tr>
<tr>
<td>Brian MacArthur</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$6.25</td>
<td>$5.75</td>
</tr>
<tr>
<td>Joe Reagor</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$8.00</td>
<td>$7.25</td>
</tr>
<tr>
<td>Brian MacArthur</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$5.75</td>
<td>$5.00</td>
</tr>
<tr>
<td>Kevin O'Halloran</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$7.50</td>
<td>$6.75</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Coeur Mining. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Coeur Mining compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Coeur Mining's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Coeur Mining's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CDE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Coeur Mining analyst ratings.</a>
<h2>All You Need to Know About Coeur Mining</h2>
Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, Rochester, Wharf, and Kensington. Its projects are located in the United States, Canada Mexico, and North America.
<h3>Financial Milestones: Coeur Mining's Journey</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Coeur Mining displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 25.27%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 0.64%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Coeur Mining's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 0.14%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Coeur Mining's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.07%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 0.62, Coeur Mining faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Expert Outlook: Coeur Mining Through The Eyes Of 5 Analysts

Raymond James analyst Brian MacArthur maintains Coeur Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) with a Market Perform and raises the price target from $6.25 to $7.

Price Target

Raymond James Maintains Market Perform on Coeur Mining, Raises Price Target to $7

WIIM

RGLD

SAND

SSRM

Shares of precious metals stocks are trading higher as gold and silver rise after the Fed on Wednesday cut rates by 50 basis points.

Shares of gold stocks are trading higher in sympathy with overall market sentiment after the Fed policy decision to cut rates by 50 basis points.

These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) shares jumped 36.59%. The company reported positive throughput trends at the expanded Rochester <a href="https://www.benzinga.com//node/40829092" target="_blank" rel="noreferrer noopener">Silver-Gold Mine in Nevada</a>.</li>
<li>Medical Properties Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) stock gained 32.85% last week after reaching a global settlement agreement that restored its control over its real estate and severed its relationship with Steward Health Care.</li>
<li>New Gold Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) shares were up 32.48%. The company provided an update on its <a href="https://www.benzinga.com//node/40810423" target="_blank" rel="noreferrer noopener">ongoing Rainy River exploration program</a>.</li>
<li>RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) stock gained 29.79% after the company reported better-than-expected Q2 financial results. Multiple analysts raised their <a href="https://www.benzinga.com/quote/RH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts following the report</a>.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) stock escalated 29.17%.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) shares upped 26.89%. The company's Wilsonville, OR facility has earned LEED certification from the U.S. Green Building Council (USGBC) for meeting sustainability standards in its <a href="https://www.benzinga.com//node/40830370" target="_blank" rel="noreferrer noopener">building, operations, and maintenance</a>.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) stock rose 26.88%.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40869968/moderna-tyson-foods-and-adobe-are-among-top-10-large-cap-stock-losers-last-week-sep-8-sep-14-are-t" target="_blank" rel="noreferrer noopener">Moderna, Tyson Foods And Adobe Are Among Top 10 Large Cap Stock Losers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?</a></li>
</ul>

Silver mining stocks have recorded their best weekly performance in over four years, with some exchange-traded funds (ETFs) delivering their <a href="https://www.benzinga.com/money/best-precious-metals-stocks">highest gains since inception</a>.
A perfect storm of rising gold prices, expectations of a Federal Reserve interest rate cut, and a condition of structural global silver supply shortage has propelled prices above $30 per ounce, driving an almost 10% surge this week alone.
Several silver-focused ETFs have outperformed the broader market, benefiting from the rapid rise in prices. Here's a breakdown of their weekly performance as of 3 p.m. ET on Friday:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF</th>
<th>Performance (5D)</th>
<th>Best Week Since</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver Miners Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>+16.8%</td>
<td>Early April 2020</td>
</tr>
<tr>
<td>Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>)</td>
<td>+16.7%</td>
<td>Fund Inception (2010)</td>
</tr>
<tr>
<td>Themes Silver Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGMI#NASDAQ">AGMI</a>)</td>
<td>+13.0%</td>
<td>Fund Inception (2024)</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Worsening Silver Shortage</h3>
The silver market&#8217;s supply and demand dynamics are only tightening, pushing prices higher. A Silver Institute survey highlighted a growing supply deficit, with demand expected to outstrip supply by 265 million ounces (oz.) this year, marking the steepest shortage since 2020.
In 2024, industrial demand for the metal is forecasted to rise to 710.9 million oz., up from 654 million oz. in 2023, driven largely by increased use in photovoltaic cells for solar energy production.
This demand spike is colliding with a flat supply, creating a structural deficit that's driving prices upward.
<h3 class="wp-block-heading">Fed Rate Cuts Could Fuel Further Gains</h3>
Investor sentiment around silver and other precious metals is being buoyed by expectations of a near-term Federal Reserve interest rate cut. 
With inflation data aligning with a broader disinflationary trend, market odds currently point to a 49% chance of a 50-basis-point cut during next week's Fed meeting, with the remaining expectations on a 25-basis-point cut, as per CME FedWatch. 
Falling Treasury yields and a weaker dollar have further supported precious metals. 
Gold prices have soared to fresh all-time highs, surpassing $2,560/oz., with silver rallying alongside, notching five consecutive positive trading days this week—its longest winning streak since July.
<h3 class="wp-block-heading">Top-Performing Miners</h3>
Silver mining stocks have outpaced the metal itself, with some posting massive gains. Here are the five top-performing miners this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (5D)</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>37.22%</td>
</tr>
<tr>
<td>Gatos Silver, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>)</td>
<td>33.87%</td>
</tr>
<tr>
<td>Hycroft Mining Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYMC#NASDAQ">HYMC</a>)</td>
<td>28.16%</td>
</tr>
<tr>
<td>Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>)</td>
<td>25.05%</td>
</tr>
<tr>
<td>AYA Gold &amp; Silver Inc. (OTCPK: AYASF)</td>
<td>22.94%</td>
</tr>
</tbody>
</table>
</figure>
Image: Shutterstock

PAAS

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent economic data.

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent inflation data.

Gold mining stocks, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), are enjoying a stellar rally, rising 4.3% by 11 a.m. ET, on track for its largest one-day <a href="https://www.benzinga.com/topic/mining">gain since early March.</a>
The rally in miners was driven by a surge in gold prices, which jumped 1.6% to reach an all-time high of over $2,550 per ounce on Thursday, fueled by economic data and central bank interest rate decisions.
In the U.S., the latest producer inflation report for <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40831982/producer-inflation-slows-to-1-7-yearly-in-august-jobless-claims-align-with-expect">August showed mixed results.</a> Both the headline and core Producer Price Index (PPI) exceeded monthly expectations, but on an annual basis, they fell short. 
The European Central Bank (ECB) reduced its deposit facility rate <a href="https://www.benzinga.com/government/24/09/40831961/european-central-bank-cuts-key-interest-rates-as-inflation-cools">by 25 basis points</a>, bringing it to 3.5%. The ECB noted it is "appropriate to take another step in moderating the degree of monetary policy restriction." 
This move has increased demand for gold as a safe-haven asset amid lower interest rates in Europe and expectations for a similar 25-basis-point drop in the U.S. fed funds rate next week. 
<h1 class="wp-block-heading">Analyst Takeaways</h1>
Otavio Costa, macro strategist at Crescat Capital, highlighted that Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the second-largest gold miner globally, has reported its lowest annual gold production in more than 20 years. 
&#8220;From this perspective, today's environment closely resembles the 1970s,&#8221; Costa wrote in a post on social media platform X.
Back then low gold prices led major mining companies to shift their focus to other metals, just before gold experienced one of the most significant bull runs in history. 
Today, miners are once again diversifying into base metals, not due to low gold prices, but to capitalize on the growing demand for materials critical to electrification, like copper. 
However, this time the shift isn&#8217;t driven by low prices, but by a strategic move to increase exposure to base metals like copper, which are crucial for electrification and have attracted institutional capital. 
Costa argues that neglect of gold, in favor of base metals, is a potential opportunity. With fewer companies exploring and developing new gold projects, he sees several pathways for gold prices to rise, making gold-only investments particularly attractive.
However, Costa sees the limited supply as a bullish catalyst for gold, stating, "I believe it's time to be greedy when others are being fearful."
<h1 class="wp-block-heading">Thursday&#8217;s Seven Top Performing Gold Miners</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>NAME</td>
<td>% RETURN (1-DAY)</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>14.52</td>
</tr>
<tr>
<td>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</td>
<td>10.04</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>9.96</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>9.94</td>
</tr>
<tr>
<td>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>)</td>
<td>8.09</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>7.18</td>
</tr>
<tr>
<td>New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) </td>
<td>7.01</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
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</ul>
Photo: Shutterstock

Gold Miners Eye Best 1-Day Rally In 6 Months As Gold Hits Fresh Record Highs: 'Today's Environment Closely Resembles The 1970s'

U.S. stocks were mixed, with the Dow Jones index falling around 50 points on Thursday.
Shares of Signet Jewelers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) rose sharply during Thursday's session after reporting better-than-expected second-quarter earnings and stronger than anticipated <a href="https://www.benzinga.com/news/earnings/24/09/40831684/signet-jewelers-q2-earnings-eps-beat-net-debt-positive-strong-q3-outlook">third-quarter revenue outlook.</a>
Signet reportedasecond-quarter sales decline of 7.6% year-on-year to $1.49 billion, missing the analyst consensus estimate of $1.50 billion. Adjusted EPS of $1.25 beat the analyst consensus estimate of $1.14.
Signet Jewelers shares jumped 18.8% to $92.83 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) shares jumped 31.3% to $20.93 after the company disclosed a settlement agreement with TP-Link Systems and raised its third-quarter revenue guidance.</li>
<li>The Lovesac Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) gained 24.7% to $26.23 after the company reported better-than-expected quarterly EPS results.</li>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) climbed 21.5% to $27.57 after the company announced it raised $235 million in net proceeds.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) rose 21% to $4.9301. The company recently company reported second-quarter financial results.</li>
<li>LiveWire Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LVWR#NASDAQ">LVWR</a>) rose 15.2% to $6.49.</li>
<li>JBDI Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBDI#NASDAQ">JBDI</a>) surged 14% to $24.14.</li>
<li>Byrna Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYRN#NASDAQ">BYRN</a>) gained 13% to $16.29.</li>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) climbed 12.7% to $6.48. Coeur announced achievement of key milestones at expanded Rochester Mine.</li>
<li>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>) gained 11.1% to $3.0450.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) rose 8.8% to $11.79.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) climbed 7.3% to $6.06.</li>
<li>Medical Properties Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) rose 7.1% to $5.16 after the company announced it reached a global settlement agreement that restored its control over its real estate and severed its relationship with Steward Health Care.</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) gained 7.1% to $7.44.</li>
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<li> <a href="https://www.benzinga.com/top-stories/24/09/40813043/jim-cramer-not-the-time-to-own-oil-when-asked-about-exxon-mobil-says-ibm-is-performing-well">Jim Cramer: &#8216;Not The Time To Own Oil,&#8217; When Asked About Exxon Mobil; Says IBM Is &#8216;Performing Well&#8217;</a></li>
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Intraday Update

Markets

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BYRN

JBDI

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LVWR

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SMMT

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Signet Jewelers Posts Better-Than-Expected Earnings, Joins NETGEAR, Lovesac And Other Big Stocks Moving Higher On Thursday

Rochester remains on-track to place 7.0 &ndash; 8.0 million tons per quarter during the second half of 2024 and to achieve its full-year 2024 production&nbsp;guidance&nbsp;of 4.8 &ndash; 6.6 million ounces of silver and 37,000 &ndash; 50,000 ounces of gold.

Coeur Reports Positive Throughput Trends At Expanded Rochester Silver-Gold Mine In Nevada; Average Crushing Size Trending Toward Year-end Target

CGAU

SBSW

Shares of precious metal companies are trading lower amid a drop in the price of gold. Weakness in the commodity may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

The momentum in gold&#8217;s recent rally has lost much of its shine, <a href="https://www.benzinga.com/topic/gold">with the precious metal</a> unable to reach new record highs since Aug. 20, as U.S. Treasury yields stabilize and the dollar rebounds.
On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break a<a href="https://www.benzinga.com/markets/commodities"> three-session winning streak.</a>
The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.
 Rate-cut expectations have not seen significant improvement, with speculators fully pricing in a September rate cut but assigning a 65% probability to a smaller 25-basis-point reduction, compared to 35% for a 50-basis-point cut, according to the CME FedWatch tool.
As the Federal Reserve&#8217;s rate cut expectations remained largely unchanged, Treasury yields stabilized, with the 10-year yield trading at 3.83% on Wednesday. Despite falling 67 basis points since early July, the yield hasn&#8217;t dropped below 3.75% since earlier this month, when a volatility event caused wild swings in equity and fixed income markets.
Geopolitical tensions in the Middle East, which have historically boosted safe-haven assets like gold, did not escalate into a broader conflict after recent exchanges between Israel and Hezbollah. This de-escalation has further diminished gold&#8217;s appeal.
The U.S. dollar index (DXY) was up 0.4% Wednesday, after closing Tuesday at the lowest levels since July 2023.
<h3 class="wp-block-heading">Wednesday&#8217;s Pullbacks In Gold Mining Stocks</h3>
The dip in gold prices has led to a more significant decline in gold mining stocks. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) both fell by 2.5%.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day return (%)</td>
</tr>
<tr>
<td>Torex Gold Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NYSE">TXG</a>)</td>
<td>-4.89%</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>-4.75</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>-4.63</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>-4.56</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>-4.47</td>
</tr>
<tr>
<td>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>)</td>
<td>-4.41</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40600134/investors-funnel-2-2b-into-these-5-real-estate-etfs-in-anticipation-of-fed-rate-cuts">Investors Funnel $2.2B Into These 5 Real Estate ETFs In Anticipation Of Fed Rate Cuts</a></li>
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Image created using artificial intelligence via Midjourney.

Bonds

Treasuries

GDXJ

Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday

Gold prices surged to record highs above $2,490 per ounce on Friday, rising more than 1.7% at 9:50 a.m. EST. A weakening U.S. dollar and declining <a href="https://www.benzinga.com/topic/treasury-yields">Treasury yields fueled the rally</a>.
<ul>
<li>The U.S. dollar index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), dropped 0.4%</li>
<li>The greenback is down nearly 1% against the Japanese yen.</li>
<li>Treasury yields softened, with the 2-year yield decreasing by 4 basis points to 4.05%</li>
<li>The 10-year yield edged down by 2 basis points to 3.89%.</li>
<li>Year-to-date, gold is up 21%, setting the stage for its strongest annual performance since 2020 when it gained 25%.</li>
</ul>
The rise in gold prices reflects growing anticipation that the Federal Reserve will initiate <a href="https://www.benzinga.com/topic/interest-rates">a series of rate cuts</a>.
<h2 class="wp-block-heading">Inflation Decelerates</h2>
July's inflation data, for both producer and consumer prices, slightly undershot expectations this week, reinforcing the disinflationary trend that is firmly on track.
Producer prices rose just 0.1% month-over-month in July, following a 0.2% increase in June, and came in below the 0.2% forecast. On an annual basis, producer inflation slowed to 2.2%, down from 2.7% in June.
Consumer inflation also decelerated for the fourth consecutive month, with the annual inflation rate dropping to 2.9% in July, the lowest since March 2021, compared to 3% in June. Core inflation, which excludes volatile food and energy prices, also eased to 3.2% from 3.3% in June, matching expectations.
Traders have slightly moderated their expectations for a large 50-basis-point Fed rate cut in September, now leaning towards a smaller 25-basis-point cut, with a 73% probability priced in. By the end of the year, markets are pricing in a total of 80 basis points in cuts, implying two additional 25-basis-point reductions at the Fed's November and December meetings.
Chart: Largest Gold-Backed ETF Reaches Record Highs
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="442" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49-1024x442.png" alt="" class="wp-image-499072" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49-1024x442.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49-300x130.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49-768x332.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49-1536x663.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16100714/image-1-49.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081624&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">Gold ETFs See Strong Inflows</h3>
In July, global gold ETFs, which include the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) as well as several others, had their strongest month since April 2022, attracting $3.7 billion, marking the third consecutive month of inflows, according to data from the World Gold Council (WGC). 
North American funds led the charge, with inflows of $2 billion, more than offsetting minor outflows in May and June.
The WGC commented that &#8220;July was unprecedented on the political front with the assassination attempt on Trump followed by Biden stepping down from the presidential race. Gold ETF inflows around both dates suggest increased safe-haven demand.&#8221;
<h3 class="wp-block-heading">Jackson Hole Symposium in Focus</h3>
Looking ahead, all eyes are on the Jackson Hole Symposium, scheduled for Aug. 22-24, which comes just weeks before the Fed&#8217;s anticipated rate cuts in September. 
Historically, gold has shown strength following the Jackson Hole Symposium, as the WGC highlighted. This has often been followed by a pullback as bond yields tend to rise in the subsequent weeks.
<h3 class="wp-block-heading">Gold Miners Moving On Friday </h3>
The five best-performing gold mining stocks within the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) by 10:00 a.m. ET included:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>SSR Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NYSE">SSRM</a>)</td>
<td>5.06%</td>
</tr>
<tr>
<td>Emerald Resources NL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>)</td>
<td>4.43</td>
</tr>
<tr>
<td>K92 Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNT#NYSE">KNT</a>)</td>
<td>4.07</td>
</tr>
<tr>
<td>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>)</td>
<td>3.51</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>3.49</td>
</tr>
</tbody>
</table>
</figure>
Industry heavyweights such as Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) were 0.8% and 2.3% higher respectively. 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40405406/interest-rate-markets-rethink-fed-strategy-as-economic-data-signals-no-rush-for-m">Interest Rate Markets Rethink Fed Strategy As Economic Data Signals No Rush For Major Rate Cuts</a></li>
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Large Cap

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PowerShares DB US Dollar Index Bullish Fund

Gold Prices Hit All-Time Highs Of $2,500 As Traders Jump On Rate-Cut Train: Mining Stocks On The Move Friday

Raymond James analyst Brian MacArthur maintains Coeur Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) with a Market Perform and raises the price target from $5.75 to $6.25.

Raymond James Maintains Market Perform on Coeur Mining, Raises Price Target to $6.25

Roth MKM analyst Joe Reagor reiterates Coeur Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) with a Buy and raises the price target from $7.25 to $8.

Reiteration

Roth MKM Reiterates Buy on Coeur Mining, Raises Price Target to $8

Coeur Mining (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cde#NYSE">CDE</a>) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this silver mining company would post a loss of $0.06 per share when it actually produced a loss of $0.05, delivering a surprise of 16.67%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Coeur Mining, which belongs to the Zacks Mining - Non Ferrous industry, posted revenues of $222.03 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.72%. This compares to year-ago revenues of $177.24 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Coeur Mining shares have added about 65% since the beginning of the year versus the S&amp;P 500&#39;s gain of 9.9%.
<h2>What&#39;s Next for Coeur Mining?</h2>
While Coeur Mining has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Coeur Mining: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.07 on $281.7 million in revenues for the coming quarter and $0.08 on $961.13 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Non Ferrous is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Basic Materials sector, Comstock Inc. (AMEX:LODE), has yet to report results for the quarter ended June 2024. The results are expected to be released on August 8.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Comstock Inc.&#39;s revenues are expected to be $0.57 million, up 1325% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2318635/coeur-mining-cde-reports-q2-loss-misses-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2318635">To read this article on Zacks.com click here.</a>

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Coeur Mining Reports Q2 Loss, Misses Revenue Estimates

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Coeur Mining shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Coeur Mining Q2 Adj. EPS $0.00 Beats $(0.02); Sales $222.00M Miss $242.25M Estimate

shares of precious metals stocks are trading lower as gold and silver fall despite overall market uncertainty.

Analysts have been eager to weigh in on the Materials sector with new ratings on Coeur Mining (CDE – Research Report), Tecnoglass (TGLS – Research ...

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Scorpio Gold is, like many #gold juniors, extremely cheap vs. the underlying gold price. It has two projects in Nevada, one of which should reach initial production next year! Low-risk, low cap-ex. Tremendous upside potential.

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Coeur Mining (CDE) Forecast

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