RBC Capital Reiterates a Buy Rating on Coeur Mining (CDE), Sets an $11 PT

Coeur Mining, Inc. (NYSE:CDE) is one of the best strong buy stocks to buy under $10. In a report released on July 7, Michael Siperco from RBC Capital maintained a Buy rating on Coeur Mining, Inc. (NYSE:CDE), setting a price target of $11.00.

Aerial view of a gold mine, reflecting the company’s precious metals mining operations.

On May 27, Coeur Mining, Inc. (NYSE:CDE) announced that its Board of Directors authorized a $75 million share repurchase program effective through May 31, 2026.

Mitchell J. Krebs, Chairman, President and Chief Executive Officer, stated that the share repurchase program aims to enhance the per-share value for Coeur Mining, Inc.’s (NYSE:CDE) shareholders.

He added that the initiative suggests management’s confidence in the company’s strong free cash flow profile, attributed to increased gold and silver prices, continued momentum at the expanded Rochester mine, impact of the Las Chispas mine, and consistent performance from its other three operations.

Krebs also stated that after a number of years of heavy investment, Coeur Mining, Inc. (NYSE:CDE) is now in a position “to continue rapidly paying down debt, maintain the pace of reinvestment in high-return organic growth opportunities, while beginning to return capital to shareholders.”

Coeur Mining, Inc. (NYSE:CDE) explores and develops gold and silver mines and mining properties in the US, Canada, and Mexico. It operates through the Palmarejo, Rochester, Kensington, Wharf, and Other segments.

The Palmarejo segment manages a gold-silver complex, while the Rochester segment operates a silver-gold mine in northwestern Nevada. Similarly, the Kensington and Wharf segments operate an underground gold mine and an open-pit heap leach gold mine, respectively.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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