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Category: Mid-tier Producer
Rating: 2.50   (Likely 3 Bagger as of 01/06/2017)
Risk: Moderate
Coeur Mining Inc
www: www.coeur.com     email: investors@coeur.com

Profile
Notes
Forum
Your Data

Price Data

Symbol Date Price Change 52 Wk Range Volume
NYSE:CDE 05/23/2017 USD 9.33 -0.27 16.41 - 6.98 0
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Don's Summary (from last analysis - 01/06/2017)

Coeur Mining has underperformed since 2006. They have to reach $70 per share just to get back to where the share price traded in 2006. However, they have been aggressive, purchasing Orko Silver, Paramount Gold, and a mine from Gold Corp. In 2017, they will produce about 17 million ounces of silver and 350,000 ounces of gold. That is substantial and with rising gold and silver prices, cash flow could reach $1 billion annually. At 10x cash flow, they could reach a $10 billion market cap. That would make them a potential 3 bagger from their current $1.8 billion FD market cap. The stock has been surging, rising from $2.48 to $10.61 in the past year.

I look for this stock to do well, but it's a bit pricey after the recent run. Their new management team has focused on improving their balance sheet, and have reduced their net debt to $5 million. If Coeur can pile up cash, this stock should do very well. For silver producers, I have been down on CDE. However, they seem to be hitting their stride. Let's hope they can pull it off and reach a new high.

Before you get too excited that this stock is going to blast off, they do not have low cash costs. Their all-in costs (free cash flow) are around $17 per oz for silver and $1200 for gold. So they are a high risk investment at low gold and silver prices. However, if silver prices take off, they will benefit big time.

General Details

Financial 01/06/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $1,835.53M $1,693.30M 03/31/2017 $-142.23M
Total Assets: $1,370.94M $1,337.75M 03/31/2017 $-33.19M
Total Liabilities: $738.61M $551.13M 03/31/2017 $-187.48M
Current Assets: $467.51M $439.89M 03/31/2017 $-27.62M
Current Liabilities: $113.21M $107.39M 03/31/2017 $-5.82M
Total Debt: $216.00M $219.08M 03/31/2017 $3.08M
Cash: $211.00M $210.03M 03/31/2017 $-0.97M
Enterprise Value: $1,840.53M $1,702.35M 12/11/2023 $-138.18M
Cash Flow: $10.12M $37.16M never $27.04M
Cash Flow Multiple: 181.40 45.57 never -135.83
Net Debt to Cash Flow Ratio: 0.49 0.24 never -0.25
Finance within 1 year: 01/06/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/06/2017 0.00%
Misc 01/06/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $10.610 $9.330 16:05 on 05/23/2017 $-1.28
Shares Outstanding: 170,000,000 181,490,000 03/31/2017 11,490,000
Shares Fully Diluted: 173,000,000 181,490,000 03/31/2017 8,490,000
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a n/a 01/06/2017 n/a
Production (Gold Eq Oz.): (guess) 
574,145
(guess) 
568,222
01/06/2017 -5,922
Production (Silver Eq Oz.): (guess) 
40,983,861
(guess) 
41,661,885
01/06/2017 678,024
Initial CapEx (Outstanding): n/a n/a 01/06/2017 n/a
Funding Option: n/a n/a 01/06/2017 n/a
Documentation: none PRODUCER 01/06/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 01/06/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 2.40M 2.40M 01/06/2017 0.00M
Measured & Indicated: 4.10M 4.10M 01/06/2017 0.00M
Inferred: 1.10M 1.10M 01/06/2017 0.00M
Reserves & Resources: 5.20M 5.20M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 2.11M 2.11M 01/06/2017 0.00M
Measured & Indicated: 3.31M 3.31M 01/06/2017 0.00M
Inferred: 0.48M 0.48M 01/06/2017 0.00M
Reserves & Resources: 3.79M 3.79M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
350,000oz.
(guess) 
350,000oz.
01/06/2017 0oz.
Cash Cost: $800 $800 01/06/2017 $0.00
Extra Operating Cost: $350 $350 01/06/2017 $0.00
Average Grade: 5.00 g/t 5.00 g/t 01/06/2017 n/a
Recovery Rate: (CG)  88.00% (CG)  88.00% 01/06/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 4.00M 4.00M 01/06/2017 0.00M
Annual Production: 350,000oz. 350,000oz. 01/06/2017 0oz.
Cash Cost: $900 $900 01/06/2017 $0
Extra Operating Cost: $350 $350 01/06/2017 $0
SILVER 01/06/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 155.00M 155.00M 01/06/2017 0.00M
Measured & Indicated: 310.00M 310.00M 01/06/2017 0.00M
Inferred: 50.00M 50.00M 01/06/2017 0.00M
Reserves & Resources: 360.00M 360.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 136.40M 136.40M 01/06/2017 0.00M
Measured & Indicated: 245.52M 245.52M 01/06/2017 0.00M
Inferred: 22.00M 22.00M 01/06/2017 0.00M
Reserves & Resources: 267.52M 267.52M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
16,000,000oz.
(guess) 
16,000,000oz.
01/06/2017 0oz.
Cash Cost: $12 $12 01/06/2017 $0.00
Extra Operating Cost: $4 $4 01/06/2017 $0.00
Average Grade: 75.00 g/t 75.00 g/t 01/06/2017 n/a
Recovery Rate: (CG)  88.00% (CG)  88.00% 01/06/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 300.00M 300.00M 01/06/2017 0.00M
Annual Production: 18,000,000oz. 18,000,000oz. 01/06/2017 0oz.
Cash Cost: $12 $12 01/06/2017 $0
Extra Operating Cost: $6 $6 01/06/2017 $0

Property

Last Analysis Data  (01/06/2017)
Stage Location Name Owned Type Au Ag Cu
Production Gobernador Gregores, Argentina Martha 100% n/a
Production Nsw, Australia Endeavor 100% n/a
Production Bolivia San Bartolome 100% n/a
Production Mexico Palmarejo 100% n/a
Production Juneau, Al, USA Kensington 100% n/a
Production Nevada, USA Rochester 100% n/a
Exploration Argentina Joaquin 51% n/a
Exploration Durango, Mexico La Preciosa 100% n/a
Current Data
Stage Location Name Owned Type Au Ag Cu
Production Gobernador Gregores, Argentina Martha 100% n/a
Production Nsw, Australia Endeavor 100% n/a
Production Bolivia San Bartolome 100% n/a
Production Mexico Palmarejo 100% n/a
Production Juneau, Al, USA Kensington 100% n/a
Production Nevada, USA Rochester 100% n/a
Exploration Argentina Joaquin 51% n/a
Exploration Durango, Mexico La Preciosa 100% n/a

Profitability (by resource)

Proven &
Probable
01/06/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 52.50% 53.17% n/a 0.67%
Percentage Silver: 47.50% 46.83% n/a -0.67%
Total (Gold Eq. Oz.): 4.57M 4.51M n/a -0.06M
Total (Silver Eq. Oz.): 326.32M 330.97M n/a 4.65M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 4.02M 3.97M n/a -0.05M
Silver Eq. Oz.: 287.16M 291.25M n/a 4.09M
Maximum Profit (Gold): $32.67M $151.24M n/a $118.57M
Maximum Profit (Silver): $40.10M $103.12M n/a $63.02M
Total Maximum Profit: $72.77M $254.36M n/a $181.58M
Max Profit / Current MCap: 0.040 0.150 n/a 0.111
Max Profit Per Share (Gold): $0.19 $0.83 n/a $0.64
Max Profit Per Share (Silver): $0.23 $0.57 n/a $0.34
Total Max Profit Per Share: $0.42 $1.40 n/a $0.98
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $456.28 $426.27 n/a $-30.01
FD Mkt. Cap / Silver Eq.: $6.39 $5.81 n/a $-0.58
FD Mkt. Cap / Per Metal
as % Spot Price:
38.93% 34.04% n/a -4.89%
Measured &
Indicated
01/06/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 48.56% 49.23% n/a 0.67%
Percentage Silver: 51.44% 50.77% n/a -0.67%
Total (Gold Eq. Oz.): 8.44M 8.33M n/a -0.11M
Total (Silver Eq. Oz.): 602.67M 610.61M n/a 7.94M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 6.75M 6.66M n/a -0.09M
Silver Eq. Oz.: 481.71M 488.12M n/a 6.41M
Maximum Profit (Gold): $51.19M $236.94M n/a $185.76M
Maximum Profit (Silver): $72.18M $185.61M n/a $113.43M
Total Maximum Profit: $123.37M $422.56M n/a $299.19M
Max Profit / Current MCap: 0.067 0.250 n/a 0.182
Max Profit Per Share (Gold): $0.30 $1.31 n/a $1.01
Max Profit Per Share (Silver): $0.42 $1.02 n/a $0.61
Total Max Profit Per Share: $0.71 $2.33 n/a $1.62
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $272.00 $254.35 n/a $-17.65
FD Mkt. Cap / Silver Eq.: $3.81 $3.47 n/a $-0.34
FD Mkt. Cap / Per Metal
as % Spot Price:
23.21% 20.31% n/a -2.90%

Reserves &
Resources
01/06/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 50.77% 51.43% n/a 0.66%
Percentage Silver: 49.23% 48.57% n/a -0.66%
Total (Gold Eq. Oz.): 10.24M 10.11M n/a -0.13M
Total (Silver Eq. Oz.): 731.19M 741.26M n/a 10.07M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 7.54M 7.44M n/a -0.10M
Silver Eq. Oz.: 538.26M 545.61M n/a 7.35M
Maximum Profit (Gold): $58.67M $271.60M n/a $212.93M
Maximum Profit (Silver): $78.65M $202.25M n/a $123.59M
Total Maximum Profit: $137.33M $473.85M n/a $336.52M
Max Profit / Current MCap: 0.075 0.280 n/a 0.205
Max Profit Per Share (Gold): $0.34 $1.50 n/a $1.16
Max Profit Per Share (Silver): $0.45 $1.11 n/a $0.66
Total Max Profit Per Share: $0.79 $2.61 n/a $1.82
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $243.42 $227.55 n/a $-15.87
FD Mkt. Cap / Silver Eq.: $3.41 $3.10 n/a $-0.31
FD Mkt. Cap / Per Metal
as % Spot Price:
20.77% 18.17% n/a -2.60%

Future Valuation (Cash Flow & Totals)

Totals 01/06/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $1,325.73M $1,397.84M n/a $72.11M
Mkt. Cap: $1,835.53M $1,693.30M n/a $-142.23M
Annual Gold Production: (guess) 
350,000oz.
(guess) 
350,000oz.
01/06/2017 0oz.
Annual Silver Production: (guess) 
16,000,000oz.
(guess) 
16,000,000oz.
01/06/2017 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $6,000.00M $6,000M n/a $0M
FD Mkt. Cap Growth: 227% 254% n/a 27%
Annual
Production
Gold: 350,000 oz. 350,000 oz. n/a 0 oz.
Silver: 18,000,000 oz. 18,000,000 oz. n/a 0 oz.
Current FD
Mkt. Cap /
Gold Eq. Reserves: 114.72 105.83 n/a -8.89
Silver Eq. Reserves: 4.59 4.23 n/a -0.36
Gold Eq. Production: 1,715.45 1,582.52 n/a -132.92
Silver Eq. Production: 68.62 63.30 n/a -5.32
P&P
Reserves
(oz.)
Gold: 4.00M 4.00M 01/06/2017 n/a
Silver: 300.00M 300.00M 01/06/2017 n/a
Gold Eq.: 16.00M 16.00M 01/06/2017 n/a
Silver Eq.: 400.00M 400.00M 01/06/2017 n/a
P&P Reserves
per FD
Share (oz.)
Gold: 0.023 0.022 n/a -0.001
Silver: 1.734 1.653 n/a -0.081
Gold Eq.: 0.092 0.088 n/a -0.004
Silver Eq.: 2.312 2.204 n/a -0.108
Cash Flow 01/06/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $10.12M $37.16M n/a $27.04M
Current Multiple: 181.40 45.57 n/a -135.83
F
U
T
U
R
E
@ current prices: $-33.42M $-9.45M n/a $23.97M
Multiple @ current prices: 0.00 0.00 n/a 0.00
Growth @ current prices: 0.00% 0.00% n/a 0.00
@ future prices: $1,148.10M $1,148.10M n/a $0.00M
Multiple @ future prices: 1.60 1.47 n/a -0.12
Growth @ future prices: 2,989.65% 2,989.65% n/a -82.57

Defaults

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