Coeur Mining Target of Unusually High Options Trading (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the recipient of unusually large options trading on Wednesday. Investors bought 52,350 call options on the company. This represents an increase of 70% compared to the typical volume of 30,772 call options.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of research reports. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada lifted their price target on shares of Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Weiss Ratings lowered shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Canaccord Genuity Group cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Zacks Research lowered shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Coeur Mining Trading Up 6.4%

CDE traded up $1.21 during midday trading on Wednesday, reaching $19.98. 17,881,048 shares of the company were exchanged, compared to its average volume of 29,333,961. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.66 and a current ratio of 2.47. Coeur Mining has a one year low of $4.58 and a one year high of $27.77. The stock has a market capitalization of $12.82 billion, a P/E ratio of 22.96 and a beta of 1.16. The stock’s 50-day simple moving average is $22.10 and its 200 day simple moving average is $19.35.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.70 million. Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business’s revenue was up 120.9% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. As a group, analysts forecast that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock valued at $1,238,201,000 after buying an additional 23,646,265 shares during the period. State Street Corp raised its stake in Coeur Mining by 6.7% during the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after buying an additional 1,529,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock worth $447,567,000 after acquiring an additional 6,352,828 shares in the last quarter. Tidal Investments LLC lifted its holdings in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after acquiring an additional 7,382,955 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Coeur Mining by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock valued at $277,953,000 after acquiring an additional 524,646 shares during the period. 63.01% of the stock is owned by 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.