Coeur Mining (NYSE:CDE) Price Target Raised to $8.00

Coeur Mining (NYSE:CDE) had its price target raised by equities researchers at BMO Capital Markets from $7.50 to $8.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target points to a potential upside of 12.99% from the stock’s previous close.

CDE has been the topic of several other reports. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Raymond James boosted their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Roth Mkm reiterated a “buy” rating and issued a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.67.

Coeur Mining Stock Up 1.6 %

Shares of NYSE:CDE traded up $0.11 during trading on Monday, reaching $7.08. 391,518 shares of the stock traded hands, compared to its average volume of 7,389,767. The stock has a 50-day moving average of $6.12 and a two-hundred day moving average of $5.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20. Coeur Mining has a 52-week low of $2.00 and a 52-week high of $7.39. The stock has a market cap of $2.83 billion, a P/E ratio of -22.42 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $222.03 million during the quarter, compared to analyst estimates of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. Coeur Mining’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, sell-side analysts expect that Coeur Mining will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 4,490 shares during the period. Ballentine Partners LLC purchased a new stake in Coeur Mining in the 1st quarter worth $46,000. StoneX Group Inc. purchased a new stake in shares of Coeur Mining in the first quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Coeur Mining during the 2nd quarter valued at approximately $49,000. Finally, &PARTNERS purchased a new stake in shares of Coeur Mining during the 1st quarter worth approximately $54,000. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.