Zacks Research Upgrades Coeur Mining (NYSE:CDE) to “Hold”

Coeur Mining (NYSE:CDE) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also recently commented on CDE. Scotiabank dropped their target price on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Thursday, May 7th. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, April 29th. Finally, Roth Capital set a $19.00 price objective on Coeur Mining in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Coeur Mining Price Performance

Shares of Coeur Mining stock opened at $18.52 on Monday. The business has a 50 day moving average of $16.50 and a 200 day moving average of $18.84. Coeur Mining has a 52 week low of $11.23 and a 52 week high of $27.77. The company has a market cap of $19.04 billion, a PE ratio of 15.83 and a beta of 1.32. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.14). The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business’s revenue was up 125.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. As a group, equities research analysts forecast that Coeur Mining will post 0.95 earnings per share for the current year.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the sale, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This represents a 33.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its stake in shares of Coeur Mining by 92.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after purchasing an additional 13,418,041 shares in the last quarter. State Street Corp lifted its holdings in shares of Coeur Mining by 6.7% during the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock valued at $432,390,000 after purchasing an additional 1,529,394 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after purchasing an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coeur Mining by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Coeur Mining by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock worth $241,484,000 after buying an additional 3,291,431 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.