Scotiabank Raises Coeur Mining (NYSE:CDE) Price Target to $28.50

Coeur Mining (NYSE:CDE) had its price objective increased by investment analysts at Scotiabank from $27.50 to $28.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s target price indicates a potential upside of 77.97% from the company’s current price.

Several other research analysts also recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research report on Thursday, May 7th. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, April 29th. Finally, ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.39.

Coeur Mining Trading Up 2.7%

Coeur Mining stock traded up $0.42 during trading hours on Tuesday, hitting $16.01. The company had a trading volume of 8,636,223 shares, compared to its average volume of 28,632,822. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The firm has a market cap of $16.57 billion, a P/E ratio of 13.79 and a beta of 1.29. The company has a 50-day moving average price of $17.45 and a two-hundred day moving average price of $19.70. Coeur Mining has a 1 year low of $8.56 and a 1 year high of $27.77.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The company had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. During the same period last year, the business posted $0.11 earnings per share. The business’s revenue was up 137.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Coeur Mining will post 1.39 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock worth $4,434,000 after acquiring an additional 281,489 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after purchasing an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Coeur Mining by 122.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock worth $14,393,000 after purchasing an additional 1,339,138 shares in the last quarter. Focus Partners Wealth acquired a new position in Coeur Mining during the 1st quarter valued at approximately $60,000. Finally, Intech Investment Management LLC increased its stake in Coeur Mining by 58.4% during the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock valued at $1,594,000 after purchasing an additional 99,256 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other 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.