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Investing.com - BMO Capital raised its price target on Coeur Mining Inc (NYSE:CDE) to $12.00 from $11.00 on Thursday, while maintaining an Outperform rating on the stock. The mining company, currently trading near its 52-week high of $9.97, has delivered an impressive 72.9% return year-to-date according to InvestingPro data.
The price target increase follows Coeur Mining’s strong second-quarter performance, which featured free cash flow of $146 million, exceeding both BMO Capital’s estimate of $115 million and the consensus forecast of $109 million.
The mining company reported earnings per share of $0.20 for the quarter, surpassing BMO Capital’s expectation of $0.17 and the consensus estimate of $0.18, driven by gold and silver production that exceeded forecasts.
Coeur Mining’s balance sheet showed significant improvement during the quarter as the company fully repaid its $110 million revolving credit facility and increased its treasury by $34 million to $112 million.
The company also reduced its net leverage ratio quarter-over-quarter from 0.9x to 0.4x and began repurchasing shares, contributing to BMO Capital’s decision to maintain its Outperform rating while raising the price target.
In other recent news, Coeur Mining Inc. reported impressive first-quarter results for 2025, surpassing analysts’ expectations in both earnings per share and revenue. The company achieved an EPS of $0.11, which significantly outperformed the forecasted loss of $0.01. Revenue for the quarter reached $360 million, exceeding the anticipated $309.6 million. Additionally, Coeur Mining announced the launch of a $75 million share repurchase program, set to remain active until May 31, 2026, reflecting confidence in its financial health. The company also received an upgrade from S&P Global Ratings, moving its issuer credit rating to ’B+’ from ’B-’, due to robust credit metrics and increased gold and silver production. Coeur Mining’s stockholders approved an amendment to the 2018 Long-Term Incentive Plan, extending its term and increasing the number of shares available for issuance. Furthermore, the company’s debt ratings were raised, with senior secured debt moving to ’BB’ from ’B+’ and unsecured notes going up to ’BB-’ from ’B’. Coeur Mining anticipates further improvements in gold and silver volumes from its Rochester and newly acquired Las Chispas mines.
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