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

Shares of Coeur Mining, Inc. (NYSE:CDE) traded up 3.6% during mid-day trading on Wednesday . The company traded as high as $6.37 and last traded at $6.35. 4,594,403 shares traded hands during trading, a decline of 54% from the average session volume of 10,091,866 shares. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. BMO Capital Markets upped their target price on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Canaccord Genuity Group lifted their price target on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Raymond James upped their price objective on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Finally, Roth Mkm reiterated a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Stock Performance

The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.32. The firm has a market cap of $2.50 billion, a P/E ratio of -208.60 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The business’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Coeur Mining

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after acquiring an additional 365,115 shares in the last quarter. Geode Capital Management LLC raised its holdings in Coeur Mining by 1.0% in the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after buying an additional 89,863 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after buying an additional 4,606,711 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after buying an additional 72,423 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Coeur Mining by 4.0% during the second quarter. First Eagle Investment Management LLC now owns 2,453,721 shares of the basic materials company’s stock valued at $13,790,000 after acquiring an additional 93,500 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

About Coeur Mining

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.