Coeur Mining (NYSE:CDE) Shares Up 6.6% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE)’s stock price was up 6.6% on Tuesday . The company traded as high as $6.35 and last traded at $6.33. Approximately 3,374,929 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 10,218,555 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

A number of analysts recently weighed in on CDE shares. BMO Capital Markets boosted their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Raymond James lifted their price target on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Up 5.9 %

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 stock has a market capitalization of $2.51 billion, a PE ratio of -209.60 and a beta of 1.60. The company has a 50 day moving average price of $6.31 and a 200-day moving average price of $6.33.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) 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 firm had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $289.19 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was up 61.1% compared to the same quarter last year. As a group, analysts forecast 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 made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Coeur Mining by 139.8% during the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 3,359 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Coeur Mining during the second quarter valued at $49,000. CWM LLC lifted its holdings in shares of Coeur Mining by 93.2% during the third quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 4,686 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Coeur Mining during the fourth quarter valued at $57,000. Finally, WINTON GROUP Ltd purchased a new stake in Coeur Mining during the second quarter valued at $57,000. 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.