Coeur Mining Cheap on Paper; Director Just Pocketed $519K
Coeur Mining shares have recovered to $21.09, recrossing the $20.00–$20.87 band where a board director and two C-suite executives sold $844,470 in stock fourteen days after the company posted a 53.6%
Coeur Mining Cheap on Paper; Director Just Pocketed $519K
NEW YORK, September 2 —
Coeur Mining, Inc. (CDE) has reclaimed $21.09, the exact band where three insiders sold $844,470 in stock fourteen days after a 53.6% Q2 earnings miss and guidance cut. The stock trades at 10.2x forward earnings against a $23.31 analyst consensus target, and the insider timing sharpens the central question: are estimates done falling?
- Q2 EPS of $0.12 missed the $0.26 consensus by 53.6%; Coeur cut guidance concurrent with the August 5 results filing.
- Three insiders sold $844,470 in combined proceeds on August 19, fourteen days after the Q2 earnings 8-K filing.
- Trailing free cash flow: $797 million; cash of $1.05 billion exceeds total debt of $0.71 billion.
The Earnings Miss That Insiders Didn't Wait On
The four-quarter EPS trajectory at Coeur shows a company that seemed to be finding its footing: a 7.9% miss, then a 6.0% beat, then a near-flush 0.3% beat, then a 53.6% crater. The Q2 earnings 8-K, filed August 5, reported $0.12 against a $0.26 consensus; guidance cuts accompanied the release. Fourteen days later, Director J. Kenneth Thompson sold 25,000 shares at $20.77 for $519,250, CFO Thomas Whelan sold 6,000 at $20.87 for $125,220, and General Counsel Casey Nault sold 10,000 at $20.00 for $200,000, all per Form 4 filings and all executed in a single session.
Cash Rich, Question Mark on Estimates
Coeur mines gold and silver across six sites: Palmarejo and Las Chispas in Mexico, Kensington in Alaska, Wharf in South Dakota, Rochester in Nevada, and Silvertip in British Columbia, shipping concentrates to refiners under off-take agreements. Trailing revenue grew 125.9% to $3.17 billion with a 56.3% gross margin; the balance sheet holds $1.05 billion in cash against $0.71 billion in debt; and free cash flow reached $797 million. At 10.2x forward earnings, the stock looks inexpensive, and investors can stress-test the cash flow picture via the DCF calculator. Whether that multiple holds depends on whether the guidance cut is fully embedded in analyst estimates.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| CDE | $21.7B | 10.2x | +44.6% |
| HL | $13.7B | 19.1x | +112.8% |
| PAAS | $21.3B | 10.9x | +46.9% |
| KGC | $35.6B | 9.8x | +34.9% |
| EXK | $3.2B | 9.3x | +58.8% |
| AG | $10.2B | 20.4x | +109.7% |
What the Next Report Must Show
The only insider who bought shares in the 90-day window was EVP of Exploration Aoife McGrath, who purchased 635 shares at $16.95 in June for $10,763, a rounding error against the combined officer and director sales. Short interest at 4.9% of float is not positioned for a sharp reversal. The stock has recovered to the price where the insiders exited. What changes the picture: whether the next earnings report shows the guidance cut was conservative kitchen-sinking, or the first in a series of downward estimate revisions. The $23.31 analyst consensus target is the line to watch. Run the free Coeur Mining, Inc. deep-dive →
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Coeur Mining shares have recovered to $21.09, recrossing the $20.00–$20.87 band where a board director and two C-suite executives sold $844,470 in stock fourteen days after the company posted a 53.6% Q2 earnings miss and cut guidance. The stock now trades at just 10.2x forward earnings while analysts carry a $23.31 consensus target — leaving investors to decide whether the compressed multiple reflects genuine undervaluation or whether the guidance cut has not yet finished working through Street estimates.