Coeur Mining(CDE) ZACKS·2024-12-19 20:51Gold and Silver Market Overview - Gold reached an unprecedented high of 35 an ounce in October, the highest since 2012 [1] Demand and Investment Trends - Total gold demand rose by 3% year-over-year in the first three quarters of 2024, with a record demand of 1,313 tons in Q3, surpassing 63 billion [4] Central Bank and Geopolitical Influences - Central banks continued to add gold to their reserves, driven by geopolitical risks and economic concerns [4] - The Federal Reserve's interest rate cut of 25 basis points initially caused a dip in gold and silver prices, but they quickly rebounded, indicating strong underlying demand [7] Future Projections for Gold and Silver - Analysts expect gold prices to reach $3,000 an ounce in 2025, influenced by ongoing geopolitical uncertainty and potential tariff concerns under President-elect Trump's agenda [9] - Global industrial demand for silver is projected to rise 7% in 2024, driven by applications in the green economy, particularly in the photovoltaic sector [8] Company-Specific Insights - Coeur Mining (CDE): Expected to achieve production targets of 4.8-6.6 million ounces of silver and 37,000-50,000 ounces of gold in 2024, with a projected earnings growth of 165% for 2024 and 311% for 2025 [13][14] - Pan American Silver (PAAS): Following the acquisition of Yamana Gold, the company is on track for significant growth in silver and gold production, with earnings expected to surge by 525% in 2024 [15][17] - Fortuna Mining (FSM): Projected to produce 343-385 thousand ounces of gold and 4-4.7 million ounces of silver in 2024, with earnings growth estimates of 118% for 2024 [18][19] - Fresnillo (FNLPF): Anticipated silver-equivalent production of 101-112 million ounces in 2024, with earnings growth of 45.2% for 2024 [20][21] - New Gold (NGD): Expected gold production of 300,000-310,000 ounces in 2024, with earnings growth of 157% for 2024 [22][23]