Coeur Mining (NYSE:CDE) Shares Up 5.5% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) shot up 5.5% during mid-day trading on Thursday . The stock traded as high as $16.99 and last traded at $16.8440. 4,395,769 shares were traded during mid-day trading, a decline of 73% from the average session volume of 16,507,479 shares. The stock had previously closed at $15.97.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of recent research reports. Roth Capital set a $20.00 price target on shares of Coeur Mining and gave the stock a “buy” rating in a report on Friday, October 3rd. TD Cowen raised Coeur Mining to a “strong-buy” rating in a report on Monday, December 1st. Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Thursday, October 30th. Zacks Research downgraded Coeur Mining from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Raymond James Financial set a $21.00 price objective on Coeur Mining in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.32.

Coeur Mining Stock Up 10.3%

The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 26.72 and a beta of 1.33. The stock’s 50-day moving average is $17.17 and its 200-day moving average is $13.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Coeur Mining by 84.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,881,784 shares of the basic materials company’s stock worth $25,533,000 after buying an additional 1,315,348 shares during the last quarter. Range Financial Group LLC bought a new stake in Coeur Mining in the second quarter worth about $1,115,000. Schroder Investment Management Group boosted its stake in Coeur Mining by 12.3% in the second quarter. Schroder Investment Management Group now owns 6,592,203 shares of the basic materials company’s stock valued at $58,407,000 after acquiring an additional 723,064 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Coeur Mining by 166.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 350,317 shares of the basic materials company’s stock valued at $3,104,000 after acquiring an additional 218,638 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Coeur Mining by 455.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,067,212 shares of the basic materials company’s stock valued at $9,455,000 after acquiring an additional 874,986 shares during the period. Institutional investors own 63.01% of the company’s stock.

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.