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

Coeur Mining, Inc. (NYSE:CDE)’s stock price 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.

Analyst Upgrades and Downgrades

CDE has been the topic of several recent analyst reports. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $8.50 target price (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Price Performance

The stock’s 50-day moving average price is $6.30 and its 200 day moving average price is $6.35. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -219.43 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $313.50 million during 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 revenue was up 61.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. Equities research analysts expect that Coeur Mining, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Coeur Mining during the second quarter worth approximately $49,000. FNY Investment Advisers LLC acquired a new stake in Coeur Mining in the fourth quarter valued at approximately $57,000. Empowered Funds LLC acquired a new position in Coeur Mining during the 4th quarter worth approximately $66,000. Finally, CWM LLC increased its position in shares of Coeur Mining by 93.2% in the 3rd 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 during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Company Profile

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.