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7 Mining Stocks to Watch

3. Coeur d'Alene Mines (CDE - Get Report) is a primary silver producer with gold production and has assets located in the U.S., Mexico, Bolivia, Argentina and Australia. Through its subsidiaries, it is involved in the operation and ownership, development and exploration of silver and gold mining properties and companies.

For the second quarter, the company reduced its debt by 16%, while cash and cash equivalents stood at $106.8 million, increasing 159% from the same quarter last year. In an interview to, CDE's chief executive Mitch Krebs said cash balance has grown to $147 million since the end of June. Net metal sales for the quarter increased 129% year-over-year to $231.1 million. Adjusted earnings stood at $58 million, or 65 cents per share, as against a loss of $8.9 million, or 10 cents per share, in year-ago quarter.

As reported by Bloomberg, chief executive Mitch Krebs believes that gold prices will march towards $2,000 and above by 2012, although the metal would experience a brief pullback in the short run. He said that the company is seeking to exploit the current price environment by carrying out exploration activities around its existing mines. For the second half of the year, the company's exploration budget has been hiked by 67% to $14 million for carrying out exploration activities in Mexico, Argentina and Nevada.

The company estimates 2011 silver production of 19.5 million to 20.5 million ounces and 240,000 ounces to 250,000 ounces of gold. Gold production is likely to boost during the second half, lowering cash operating costs per gold ounce. The company is planning an attractive dividend policy for 2012. Going forward, the company will not issue any shares as its operating cash flow is adequate to fund investment and distribution.

Of the eight analysts covering the stock, four recommended a buy and the rest suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 36% to $40.83 in the forthcoming 12 months.
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AEM $47.84 11.00%
BHP $31.34 0.80%
CDE $8.10 8.87%
HBM $4.98 9.93%
NEM $35.26 6.90%


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