Coeur Mining (CDE) Reports $146M Free Cash Flow, BMO Ups Target

Coeur Mining, Inc. (NYSE:CDE) ranks among the best mid-cap materials stocks to buy now. BMO Capital maintained its rating of Outperform on Coeur Mining, Inc. (NYSE:CDE) and increased its price target from $11 to $12 on August 7. The price target hike comes after Coeur Mining beat both the consensus forecast of $109 million and BMO Capital’s estimate of $115 million in the second quarter, with free cash flow coming in at $146 million.

With gold and silver output exceeding projections, the mining company reported quarterly earnings per share of $0.20, exceeding both the consensus estimate of $0.18 and BMO Capital’s expectation of $0.17.

The quarter also saw a major improvement in Coeur Mining’s balance sheet as the company expanded its treasury by $34 million to $112 million and paid off its $110 million revolving credit facility in full.

Coeur Mining, Inc. (NYSE:CDE) is a diversified precious metals company specializing in the extraction and production of silver and gold. The corporation operates mines in Palmarejo, Rochester, Wharf, and Kensington, as well as projects throughout North America.

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Disclosure: None. This article is originally published at Insider Monkey.