Coeur Mining (NYSE:CDE) Shares Up 3.6% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) rose 3.6% during trading on Wednesday . The stock traded as high as $6.37 and last traded at $6.35. Approximately 4,594,403 shares were traded during trading, a decline of 54% from the average daily volume of 10,091,866 shares. The stock had previously closed at $6.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDE. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $8.50 price objective (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. BMO Capital Markets raised their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Raymond James lifted their price objective on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Finally, Canaccord Genuity Group increased their target price on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Up 4.7 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -213.93 and a beta of 1.60. The firm’s 50-day moving average is $6.31 and its 200 day moving average is $6.31.

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

Institutional Trading of Coeur Mining

Several large investors have recently added to or reduced their stakes in CDE. GAMMA Investing LLC raised its holdings in Coeur Mining by 139.8% in the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 3,359 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Coeur Mining in the 2nd quarter worth approximately $49,000. WINTON GROUP Ltd bought a new stake in shares of Coeur Mining in the 2nd quarter valued at approximately $57,000. CIBC Asset Management Inc acquired a new stake in shares of Coeur Mining during the 2nd quarter valued at approximately $59,000. Finally, SPC Financial Inc. acquired a new position in Coeur Mining in the second quarter worth $65,000. 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.