Coeur Mining Sees Unusually Large Options Volume (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the recipient of some unusual options trading activity on Friday. Investors bought 40,720 call options on the company. This represents an increase of approximately 956% compared to the average volume of 3,855 call options.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CDE shares. Raymond James upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $8.75 to $8.25 in a report on Friday. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research note on Tuesday. They issued an “outperform” rating and a $9.00 price target on the stock. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Roth Mkm dropped their price target on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.31.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Coeur Mining by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after buying an additional 3,178,785 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after purchasing an additional 365,115 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Coeur Mining by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock valued at $98,137,000 after purchasing an additional 282,885 shares during the last quarter. Tidal Investments LLC increased its position in shares of Coeur Mining by 11.1% during the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock valued at $76,326,000 after purchasing an additional 1,332,684 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Coeur Mining by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after purchasing an additional 89,863 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $5.45 on Friday. Coeur Mining has a fifty-two week low of $2.42 and a fifty-two week high of $7.72. The business has a 50-day simple moving average of $6.33 and a two-hundred day simple moving average of $6.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 45.38 and a beta of 1.59.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. Coeur Mining had a return on equity of 6.71% and a net margin of 5.59%. The business had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. On average, analysts expect that Coeur Mining will post 0.58 earnings per share for the current year.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.