Coeur Mining (NYSE:CDE) Reaches New 1-Year High – Here’s What Happened

Shares of Coeur Mining, Inc. (NYSE:CDE) reached a new 52-week high on Tuesday . The stock traded as high as $27.77 and last traded at $25.44, with a volume of 39294797 shares. The stock had previously closed at $26.11.

Analysts Set New Price Targets

Several research firms have commented on CDE. TD Securities raised their target price on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Thursday, October 30th. Zacks Research upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Cormark lowered Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.17.

Coeur Mining Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.10 and a current ratio of 2.00. The company’s 50 day moving average price is $18.41 and its 200-day moving average price is $15.96. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 38.55 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $554.57 million for the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The company’s quarterly revenue was up 76.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 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 modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 1,435 shares during the last quarter. Covestor Ltd raised its holdings in shares of Coeur Mining by 7,011.5% during the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,823 shares during the period. JPL Wealth Management LLC purchased a new position in Coeur Mining during the 3rd quarter worth approximately $35,000. Lodestone Wealth Management LLC acquired a new stake in Coeur Mining during the 4th quarter valued at $36,000. Finally, Sound Income Strategies LLC raised its stake in Coeur Mining by 99.2% during the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 996 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

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.