Cantor Fitzgerald Upgrades Coeur Mining (NYSE:CDE) to Strong-Buy

Coeur Mining (NYSE:CDE) was upgraded by stock analysts at Cantor Fitzgerald from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on the company. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday. Roth Mkm reissued 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. Raymond James increased their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. BMO Capital Markets raised their price objective on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Canaccord Genuity Group upped their target price on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Performance

NYSE:CDE remained flat at $6.59 during mid-day trading on Thursday. 11,276,482 shares of the company traded hands, compared to its average volume of 7,836,467. Coeur Mining has a 12-month low of $2.00 and a 12-month high of $7.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The stock has a market capitalization of $2.63 billion, a PE ratio of -219.67 and a beta of 1.65. The stock’s 50 day moving average is $6.56 and its 200 day moving average is $6.02.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $313.50 million during the quarter, compared to the consensus estimate of $289.19 million. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The company’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, equities research analysts anticipate that Coeur Mining will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds have recently bought and sold shares of CDE. Van ECK Associates Corp grew its position 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 valued at $251,629,000 after purchasing an additional 365,115 shares during the period. Tidal Investments LLC bought a new stake in Coeur Mining in the 1st quarter valued at $41,587,000. American Century Companies Inc. increased its holdings in Coeur Mining by 248.1% during the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Millennium Management LLC raised its stake in shares of Coeur Mining by 2.6% in the 2nd 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 period. Finally, Janus Henderson Group PLC boosted its position in shares of Coeur Mining by 18.5% during the first quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock worth $10,254,000 after buying an additional 424,835 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.