Coeur Mining (NYSE:CDE) Trading 3.5% Higher – Here’s Why

Coeur Mining, Inc. (NYSE:CDE)’s share price traded up 3.5% during mid-day trading on Wednesday . The stock traded as high as $20.89 and last traded at $19.6590. 21,340,313 shares were traded during mid-day trading, a decline of 27% from the average session volume of 29,101,658 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce assumed coverage on Coeur Mining in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price objective for the company. Weiss Ratings downgraded Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 27th. Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of Coeur Mining in a research note on Thursday, February 19th. Royal Bank Of Canada lifted their price objective on Coeur Mining from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group cut Coeur Mining from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Coeur Mining Trading Up 3.5%

The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 22.60 and a beta of 1.33. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $21.48 and a 200-day moving average of $19.44.

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

Hedge Funds Weigh In On Coeur Mining

Institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in Coeur Mining by 246.5% during the third quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company’s stock valued at $11,410,000 after buying an additional 432,683 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in Coeur Mining during the third quarter valued at about $5,768,000. Precision Wealth Strategies LLC bought a new position in Coeur Mining during the third quarter valued at about $1,169,000. Allspring Global Investments Holdings LLC raised its holdings in Coeur Mining by 29.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,368,071 shares of the basic materials company’s stock valued at $44,709,000 after buying an additional 539,615 shares in the last quarter. Finally, Sprott Inc. raised its holdings in Coeur Mining by 2.0% during the third quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company’s stock valued at $172,743,000 after buying an additional 176,388 shares in the last quarter. 63.01% of the stock is currently 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.