Coeur Mining (NYSE:CDE) Stock Price Up 5.2% – Here’s Why

Shares of Coeur Mining, Inc. (NYSE:CDE) were up 5.2% during mid-day trading on Monday . The company traded as high as $6.52 and last traded at $6.46. Approximately 1,751,552 shares were traded during trading, a decline of 78% from the average daily volume of 7,914,794 shares. The stock had previously closed at $6.14.

Analysts Set New Price Targets

CDE has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Raymond James increased their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Roth Mkm reissued a “buy” rating and set a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. The firm has a market capitalization of $2.65 billion, a P/E ratio of -221.59 and a beta of 1.65. The stock has a 50 day moving average of $6.68 and a 200-day moving average of $6.12.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. Coeur Mining’s revenue was up 61.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. Research analysts predict that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in Coeur Mining by 1.1% during the third 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. Tidal Investments LLC purchased a new position in shares of Coeur Mining during the first quarter worth about $41,587,000. Geode Capital Management LLC increased its position in shares of Coeur Mining by 1.0% in the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after purchasing an additional 89,863 shares during the last quarter. American Century Companies Inc. raised its stake in Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after purchasing an additional 72,423 shares during the last quarter. 63.01% of the stock is currently 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.