Coeur Mining (NYSE:CDE) Trading Up 3.6% – What’s Next?

Shares of Coeur Mining, Inc. (NYSE:CDE) traded up 3.6% during trading on Wednesday . The company traded as high as $6.37 and last traded at $6.35. 4,594,403 shares traded hands during mid-day 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

CDE has been the topic of several recent research reports. BMO Capital Markets raised their price target on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Canaccord Genuity Group increased their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Raymond James lifted their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Finally, StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Stock Performance

The stock has a market cap of $2.56 billion, a P/E ratio of -213.93 and a beta of 1.60. 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 company has a fifty day moving average of $6.31 and a 200 day moving average of $6.31.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 61.1% on a year-over-year basis. On average, equities analysts predict that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of 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 valued at $251,629,000 after purchasing an additional 365,115 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Coeur Mining by 1.0% during 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 purchasing an additional 89,863 shares during the period. American Century Companies Inc. grew its position in Coeur Mining by 248.1% during the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Millennium Management LLC increased its stake in Coeur Mining by 2.6% in the 2nd 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 period. Finally, First Eagle Investment Management LLC lifted its position in Coeur Mining by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,453,721 shares of the basic materials company’s stock worth $13,790,000 after buying an additional 93,500 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other 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.