Coeur Mining (NYSE:CDE) Trading Up 9.8% – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE)’s share price shot up 9.8% on Wednesday . The company traded as high as $20.33 and last traded at $20.3170. 6,317,940 shares changed hands during trading, a decline of 79% from the average session volume of 29,751,520 shares. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CDE. Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Thursday, May 7th. Scotiabank lowered their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a report on Friday, August 7th. Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital set a $19.00 price target on Coeur Mining in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Coeur Mining Trading Up 13.5%

The firm’s 50 day simple moving average is $16.50 and its two-hundred day simple moving average is $18.84. The stock has a market capitalization of $21.59 billion, a P/E ratio of 18.00 and a beta of 1.32. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.Coeur Mining’s revenue for the quarter was up 125.8% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. As a group, analysts forecast that Coeur Mining, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Transactions at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the completion of the sale, the chief accounting officer owned 77,204 shares of the company’s stock, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in Coeur Mining by 92.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after purchasing an additional 13,418,041 shares during the period. State Street Corp raised its holdings in Coeur Mining by 6.7% during the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after buying an additional 1,529,394 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after buying an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock valued at $277,953,000 after buying an additional 524,646 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Coeur Mining by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock valued at $241,484,000 after buying an additional 3,291,431 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.