Coeur Mining (NYSE:CDE) Raised to “Outperform” at Raymond James

Coeur Mining (NYSE:CDE) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Friday,Finviz reports. The brokerage presently has a $8.25 target price on the basic materials company’s stock, down from their prior target price of $8.75. Raymond James’ price target points to a potential upside of 35.14% from the company’s previous close.

Other research analysts have also issued reports about the stock. Roth Mkm restated a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Cormark upgraded Coeur Mining to a “moderate buy” rating in a research report on Thursday. BMO Capital Markets began coverage on shares of Coeur Mining in a report on Tuesday. They set an “outperform” rating and a $9.00 target price on the stock. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.38.

Coeur Mining Stock Performance

Shares of NYSE CDE opened at $6.11 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $6.39. Coeur Mining has a 12 month low of $2.42 and a 12 month high of $7.72. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 50.88 and a beta of 1.59.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.71%. As a group, analysts predict that Coeur Mining will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Coeur Mining

A number of large investors have recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in Coeur Mining during the 3rd quarter worth $579,000. JPMorgan Chase & Co. boosted its holdings in Coeur Mining by 88.3% in the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after purchasing an additional 665,452 shares during the period. XTX Topco Ltd acquired a new stake in Coeur Mining during the third quarter worth about $1,311,000. Van ECK Associates Corp lifted its holdings in shares of Coeur Mining by 1.1% in the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after purchasing an additional 365,115 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Coeur Mining by 180.7% during the third quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock valued at $2,137,000 after acquiring an additional 199,919 shares during the period. 63.01% of the stock is currently owned by hedge funds and other 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.