Coeur Mining (NYSE:CDE) Trading 3.9% Higher – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE)’s stock price rose 3.9% on Tuesday . The stock traded as high as $6.65 and last traded at $6.51. Approximately 2,342,953 shares were traded during trading, a decline of 78% from the average daily volume of 10,597,343 shares. The stock had previously closed at $6.26.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDE. Raymond James raised Coeur Mining from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $8.75 to $8.25 in a research note on Friday, February 21st. TD Securities began coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price target for the company. Roth Mkm lowered their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research report on Friday, February 21st. National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Friday, March 21st. Finally, BMO Capital Markets started coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.05.

Coeur Mining Price Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 51.13 and a beta of 1.51. The stock’s 50 day simple moving average is $6.17 and its 200-day simple moving average is $6.38.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $305.40 million for 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 6.59%. On average, analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $5.25 per share, with a total value of $52,500.00. Following the acquisition, the chief financial officer now owns 668,450 shares in the company, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.56% of the company’s stock.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of 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 valued at $9,761,000 after purchasing an additional 665,452 shares during the period. XTX Topco Ltd acquired a new position in Coeur Mining in the 3rd quarter valued at $1,311,000. BNP Paribas Financial Markets raised its holdings in Coeur Mining by 180.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock worth $2,137,000 after acquiring an additional 199,919 shares during the period. US Bancorp DE lifted its position in Coeur Mining by 595.5% during the 4th quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock worth $503,000 after acquiring an additional 75,314 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Coeur Mining during the third quarter valued at about $642,000. 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.