Coeur Mining (CDE) Stock Rating Upgraded by Zacks Investment Research
Coeur Mining (NYSE:CDE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
A number of other equities research analysts have also weighed in on CDE. Canaccord Genuity reissued a “buy” rating and issued a $11.75 target price on shares of Coeur Mining in a research note on Thursday, September 7th. UBS Group lowered Coeur Mining from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 7th. Raymond James Financial reissued a “market perform” rating and issued a $9.50 target price on shares of Coeur Mining in a research note on Thursday, September 7th. Royal Bank of Canada reissued an “outperform” rating on shares of Coeur Mining in a research note on Thursday, September 7th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Coeur Mining in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.29.
Coeur Mining (NYSE CDE) traded down $0.46 during midday trading on Tuesday, hitting $7.51. The stock had a trading volume of 4,024,400 shares, compared to its average volume of 3,643,600. Coeur Mining has a 12 month low of $6.71 and a 12 month high of $12.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.51 and a current ratio of 3.68. The company has a market cap of $1,390.00, a price-to-earnings ratio of -75.10 and a beta of 0.38.
Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.17). Coeur Mining had a negative net margin of 2.41% and a negative return on equity of 1.37%. The company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $185.09 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was up 1.5% on a year-over-year basis. sell-side analysts anticipate that Coeur Mining will post -0.05 earnings per share for the current year.
In related news, CFO Peter C. Mitchell sold 10,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $7.67, for a total transaction of $76,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark Spurbeck sold 15,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $7.42, for a total value of $111,300.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in shares of Coeur Mining by 46.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock worth $159,688,000 after acquiring an additional 5,933,383 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Coeur Mining during the 2nd quarter worth approximately $689,000. Investec Asset Management LTD purchased a new position in shares of Coeur Mining during the 2nd quarter worth approximately $28,801,000. Ninepoint Partners LP purchased a new position in shares of Coeur Mining during the 3rd quarter worth approximately $6,378,000. Finally, ETF Managers Group LLC purchased a new position in shares of Coeur Mining during the 2nd quarter worth approximately $5,207,000. Institutional investors own 69.73% of the company’s stock.
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Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.
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