Coeur Mining, Inc. (NYSE:CDE) Forecasted to Post Q1 2024 Earnings of ($0.08) Per Share

Coeur Mining, Inc. (NYSE:CDE) – Cormark dropped their Q1 2024 EPS estimates for Coeur Mining in a report released on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of ($0.08) for the quarter, down from their prior forecast of ($0.03).

A number of other analysts have also weighed in on the stock. Raymond James raised their price target on shares of Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a report on Monday, April 8th. BMO Capital Markets raised their price objective on shares of Coeur Mining from $3.50 to $4.25 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Roth Mkm initiated coverage on shares of Coeur Mining in a research note on Tuesday, April 9th. They issued a “buy” rating and a $5.40 price objective on the stock. Roth Capital reaffirmed a “buy” rating on shares of Coeur Mining in a research note on Tuesday, April 9th. Finally, National Bank Financial reaffirmed an “outperform spec market weight” rating on shares of Coeur Mining in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.21.

Coeur Mining Stock Performance

Shares of Coeur Mining stock opened at $4.62 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.92 and a quick ratio of 0.38. The firm has a market cap of $1.80 billion, a P/E ratio of -14.89 and a beta of 1.82. The firm has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $3.05. Coeur Mining has a fifty-two week low of $2.00 and a fifty-two week high of $5.47.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 21st. The basic materials company reported ($0.02) earnings per share for the quarter. The company had revenue of $262.10 million during the quarter. Coeur Mining had a negative net margin of 12.62% and a negative return on equity of 7.79%.

Hedge Funds Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Coeur Mining by 5.7% during the third quarter. Vanguard Group Inc. now owns 31,864,964 shares of the basic materials company’s stock worth $70,740,000 after purchasing an additional 1,716,929 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coeur Mining by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,153,752 shares of the basic materials company’s stock valued at $9,221,000 after acquiring an additional 274,878 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in Coeur Mining by 95.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 10,246,050 shares of the basic materials company’s stock valued at $22,746,000 after acquiring an additional 5,017,119 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Coeur Mining by 1.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 247,169 shares of the basic materials company’s stock valued at $806,000 after acquiring an additional 4,175 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Coeur Mining by 22.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,457,720 shares of the basic materials company’s stock valued at $30,832,000 after acquiring an additional 1,702,840 shares in the last quarter. 63.01% of the stock is 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.