Coeur Mining (NYSE:CDE) Shares Gap Up – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) gapped up prior to trading on Monday . The stock had previously closed at $20.40, but opened at $21.51. Coeur Mining shares last traded at $21.9060, with a volume of 4,643,847 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CDE shares. Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Cormark cut Coeur Mining from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.75.

Coeur Mining Trading Up 6.2%

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 company has a market cap of $13.91 billion, a price-to-earnings ratio of 32.95 and a beta of 1.24. The business’s fifty day simple moving average is $16.61 and its two-hundred day simple moving average is $14.88.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. On average, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Institutional Trading of Coeur Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in 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 worth $30,000 after acquiring an additional 1,435 shares in the last quarter. Covestor Ltd raised its position in shares of Coeur Mining by 7,011.5% in the 3rd 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 acquired a new stake in Coeur Mining in the third quarter worth $35,000. Luminist Capital LLC bought a new position in Coeur Mining during the second quarter worth about $40,000. Finally, Focus Partners Wealth bought a new position in shares of Coeur Mining during the 1st quarter valued at about $60,000. 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.