Coeur Mining (NYSE:CDE) Sets New 1-Year High – Here’s Why

Coeur Mining, Inc. (NYSE:CDE)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $27.77 and last traded at $25.44, with a volume of 39294797 shares changing hands. The stock had previously closed at $26.11.

Analyst Ratings Changes

A number of research firms have recently weighed in on CDE. Roth Mkm upped their price target on shares of Coeur Mining from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Raymond James Financial set a $21.00 price target on shares of Coeur Mining in a research report on Thursday, October 30th. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Cantor Fitzgerald cut 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. Three equities research 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 company. According to MarketBeat.com, Coeur Mining presently has a consensus rating of “Buy” and an average price target of $18.17.

Coeur Mining Stock Down 0.2%

The company has a market cap of $16.48 billion, a PE ratio of 38.88 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 2.00 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $18.86 and its 200-day simple moving average is $16.14.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data 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). Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The business had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. During the same period last year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, equities research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors have recently made changes to their positions in the stock. 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 valued at $25,533,000 after purchasing an additional 1,315,348 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Coeur Mining by 246.5% in the 3rd quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company’s stock worth $11,410,000 after buying an additional 432,683 shares during the period. Moody Aldrich Partners LLC acquired a new position in Coeur Mining in the third quarter valued at $5,768,000. Allspring Global Investments Holdings LLC grew its position 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 acquiring an additional 539,615 shares during the period. Finally, Precision Wealth Strategies LLC acquired a new stake in Coeur Mining during the third quarter worth about $1,169,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Company Profile

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.