Shares of Coeur Mining (CDE) jumped 5.06% in pre-market trading on Thursday, following the release of its impressive first-quarter earnings report. The precious metals mining company significantly outperformed analyst expectations, demonstrating robust financial performance and operational efficiency.
Coeur Mining reported adjusted earnings of 11 cents per share for the quarter ended March 31, surpassing the consensus estimate of breakeven results. This marks a substantial improvement from the loss of 5 cents per share in the same quarter last year. The company's revenue soared 69% year-over-year to $360.06 million, comfortably beating analyst projections of $317.76 million. Additionally, Coeur Mining posted a quarterly net income of $33.35 million, further underscoring its strong financial position.
The market's positive reaction to Coeur Mining's earnings report is reflected in analyst sentiment. The current average analyst rating on the shares is "buy," with 9 "strong buy" or "buy" recommendations. Wall Street's median 12-month price target for Coeur Mining stands at $9.50, indicating potential upside from current levels. As the company continues to demonstrate operational excellence and financial growth, investors appear optimistic about its future prospects in the competitive precious metals mining sector.
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