Coeur Mining (NYSE:CDE) Trading Up 8.7% – Still a Buy?

Coeur Mining, Inc. (NYSE:CDE)’s stock price rose 8.7% during mid-day trading on Thursday . The company traded as high as $6.23 and last traded at $6.22. Approximately 6,799,536 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 8,065,218 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Raymond James lifted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Canaccord Genuity Group increased their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Roth Mkm reaffirmed a “buy” rating and issued a $8.50 price objective (down from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Up 7.2 %

The firm’s 50 day simple moving average is $6.38 and its 200-day simple moving average is $6.29. 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 stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -204.27 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. Coeur Mining’s revenue was up 61.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Equities analysts expect that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted 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 acquiring an additional 4,606,711 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Coeur Mining in the 2nd quarter valued at about $4,822,000. JPMorgan Chase & Co. grew its holdings in Coeur Mining by 88.3% during 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. Cubist Systematic Strategies LLC acquired a new position in Coeur Mining during the second quarter worth approximately $2,382,000. Finally, Van ECK Associates Corp increased its position 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 worth $251,629,000 after buying an additional 365,115 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

About Coeur Mining

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.