Investors in Calibre Mining Corp. (TSE:CXB) had a good week, as its shares rose 4.0% to close at CA$2.07 following the release of its second-quarter results. Results overall were respectable, with statutory earnings of US$0.18 per share roughly in line with what the analysts had forecast. Revenues of US$138m came in 3.1% ahead of analyst predictions. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

See our latest analysis for Calibre Mining

After the latest results, the seven analysts covering Calibre Mining are now predicting revenues of US$642.1m in 2024. If met, this would reflect a decent 14% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to leap 103% to US$0.14. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$629.8m and earnings per share (EPS) of US$0.11 in 2024. There was no real change to the revenue estimates, but the analysts do seem more bullish on earnings, given the sizeable expansion in earnings per share expectations following these results.

There's been no major changes to the consensus price target of CA$2.98, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Calibre Mining analyst has a price target of CA$4.00 per share, while the most pessimistic values it at CA$2.50. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Calibre Mining's past performance and to peers in the same industry. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 29% growth on an annualised basis. That is in line with its 36% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 13% annually. So although Calibre Mining is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.