Coeur Mining (NYSE:CDE) Trading Up 8.3% – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE) traded up 8.3% on Thursday . The company traded as high as $6.91 and last traded at $6.89. 4,418,948 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 10,086,200 shares. The stock had previously closed at $6.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CDE. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Roth Mkm restated a “buy” rating and issued a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, Canaccord Genuity Group increased their price objective on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Price Performance

The stock has a fifty day moving average of $6.29 and a two-hundred day moving average of $6.34. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -227.89 and a beta of 1.60. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The company had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. The firm’s revenue for the quarter was up 61.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 3,359 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Coeur Mining during the 2nd quarter valued at $49,000. FNY Investment Advisers LLC purchased a new position in Coeur Mining during the fourth quarter worth $57,000. SPC Financial Inc. acquired a new position in shares of Coeur Mining in the second quarter worth $65,000. Finally, Empowered Funds LLC purchased a new stake in shares of Coeur Mining in the fourth quarter valued at $66,000. 63.01% of the stock is currently 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.