Coeur Mining (NYSE:CDE) Trading 13.6% Higher After Analyst Upgrade
Coeur Mining Inc (NYSE:CDE) shares were up 13.6% during mid-day trading on Tuesday after Zacks Investment Research upgraded the stock from a sell rating to a hold rating. The stock traded as high as $3.35 and last traded at $3.68, approximately 453,032 shares changed hands during mid-day trading. A decline of 94% from the average daily volume of 7,758,542 shares. The stock had previously closed at $3.24.
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. “
Other equities research analysts have also recently issued reports about the company. ValuEngine raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. B. Riley lifted their target price on Coeur Mining from $7.90 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity raised Coeur Mining from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, February 28th. Noble Financial reissued a “buy” rating and issued a $7.50 target price on shares of Coeur Mining in a research note on Sunday, December 15th. Finally, Roth Capital raised Coeur Mining from a “sell” rating to a “neutral” rating and lifted their target price for the company from $5.00 to $5.50 in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.59.
Several institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in Coeur Mining by 32.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 668,739 shares of the basic materials company’s stock worth $2,728,000 after acquiring an additional 162,639 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Coeur Mining by 88.8% during the third quarter. California Public Employees Retirement System now owns 382,750 shares of the basic materials company’s stock worth $1,841,000 after acquiring an additional 179,981 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Coeur Mining by 2.2% during the third quarter. Voya Investment Management LLC now owns 82,897 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 1,769 shares in the last quarter. Virtu Financial LLC lifted its holdings in Coeur Mining by 64.0% during the third quarter. Virtu Financial LLC now owns 100,087 shares of the basic materials company’s stock worth $481,000 after acquiring an additional 39,064 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in Coeur Mining during the third quarter worth about $90,000. 67.13% of the stock is owned by institutional investors and hedge funds.
The company has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $5.71. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $943.11 million, a P/E ratio of -2.63 and a beta of 1.49.
Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, February 19th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). The business had revenue of $195.04 million for the quarter, compared to the consensus estimate of $197.24 million. Coeur Mining had a negative return on equity of 6.66% and a negative net margin of 47.96%. The business’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, equities analysts forecast that Coeur Mining Inc will post 0.02 earnings per share for the current year.
Coeur Mining Company Profile (NYSE:CDE)
Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.
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