Coeur Mining (NYSE:CDE) Shares Gap Up – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE) gapped up prior to trading on Friday . The stock had previously closed at $6.26, but opened at $6.47. Coeur Mining shares last traded at $6.42, with a volume of 1,067,856 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Canaccord Genuity Group lifted their price objective on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Roth Mkm reissued a “buy” rating and set a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining has an average rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Price Performance

The business has a fifty day simple moving average of $6.31 and a 200-day simple moving average of $6.35. The stock has a market capitalization of $2.55 billion, a P/E ratio of -212.43 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The business had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. During the same period last year, the company posted ($0.05) earnings per share. The business’s quarterly revenue was up 61.1% on a year-over-year basis. Sell-side analysts expect that Coeur Mining, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CDE. Renaissance Technologies LLC bought a new stake in shares of Coeur Mining in the second quarter valued at $4,822,000. JPMorgan Chase & Co. increased its position in shares of Coeur Mining by 88.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock valued at $9,761,000 after purchasing an additional 665,452 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Coeur Mining during the second quarter valued at approximately $2,382,000. Van ECK Associates Corp boosted its position in Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after buying an additional 365,115 shares during the period. Finally, U S Global Investors Inc. grew its holdings in Coeur Mining by 160.4% in the 3rd quarter. U S Global Investors Inc. now owns 586,000 shares of the basic materials company’s stock worth $4,032,000 after acquiring an additional 361,000 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.