Coeur Mining Target of Unusually High Options Trading (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the recipient of some unusual options trading on Wednesday. Investors acquired 52,350 call options on the company. This represents an increase of 70% compared to the average volume of 30,772 call options.

Coeur Mining Price Performance

Shares of CDE stock traded up $1.21 during trading hours on Wednesday, hitting $19.98. 17,881,048 shares of the company’s stock were exchanged, compared to its average volume of 29,333,961. The stock’s 50-day moving average is $22.10 and its 200-day moving average is $19.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 22.96 and a beta of 1.16. Coeur Mining has a 52 week low of $4.58 and a 52 week high of $27.77.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.70 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 120.9% compared to the same quarter last year. As a group, research analysts forecast that Coeur Mining will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDE shares. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research note on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 target price on the stock. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Canaccord Genuity Group downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings cut shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Canadian Imperial Bank of Commerce assumed coverage on shares of Coeur Mining in a report on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Institutional Trading of Coeur Mining

Several hedge funds have recently modified their holdings of CDE. AQR Capital Management LLC raised its position in Coeur Mining by 60.2% in the 1st quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock worth $4,434,000 after purchasing an additional 281,489 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Coeur Mining by 122.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock valued at $14,393,000 after buying an additional 1,339,138 shares during the period. Focus Partners Wealth bought a new stake in shares of Coeur Mining during the first quarter worth $60,000. Finally, Intech Investment Management LLC raised its position in shares of Coeur Mining by 58.4% during the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after acquiring an additional 99,256 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.