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

Coeur Mining, Inc. (NYSE:CDE) was the target of some unusual options trading on Friday. Stock traders bought 40,720 call options on the company. This represents an increase of approximately 956% compared to the average daily volume of 3,855 call options.

Coeur Mining Price Performance

Shares of NYSE CDE traded down $0.56 during mid-day trading on Friday, hitting $5.54. 16,137,702 shares of the stock traded hands, compared to its average volume of 16,899,379. The company has a market cap of $2.21 billion, a PE ratio of 46.16 and a beta of 1.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39. Coeur Mining has a twelve month low of $2.42 and a twelve month high of $7.72. The firm has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $6.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a return on equity of 6.71% and a net margin of 5.59%. As a group, equities research analysts forecast that Coeur Mining will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Coeur Mining by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after buying an additional 3,178,785 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 worth $251,629,000 after buying an additional 365,115 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Coeur Mining by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock worth $98,137,000 after buying an additional 282,885 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Coeur Mining by 11.1% in the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock worth $76,326,000 after purchasing an additional 1,332,684 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Coeur Mining by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after purchasing an additional 89,863 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $8.75 to $8.25 in a report on Friday. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Cormark upgraded Coeur Mining to a “moderate buy” rating in a report on Thursday. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets began coverage on Coeur Mining in a research report on Tuesday. 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, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.38.

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.