Coeur Mining (NYSE:CDE) Shares Up 7.2% After Analyst Upgrade

Coeur Mining, Inc. (NYSE:CDE)’s stock price was up 7.2% on Tuesday after BMO Capital Markets raised their price target on the stock from $7.50 to $8.00. BMO Capital Markets currently has an outperform rating on the stock. Coeur Mining traded as high as $7.33 and last traded at $7.32. Approximately 3,240,109 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 7,396,800 shares. The stock had previously closed at $6.83.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Coeur Mining by 831.5% in the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after buying an additional 4,490 shares during the period. Ballentine Partners LLC purchased a new position in shares of Coeur Mining in the 1st quarter worth approximately $46,000. StoneX Group Inc. bought a new position in Coeur Mining in the 1st quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Coeur Mining during the second quarter worth about $49,000. Finally, &PARTNERS bought a new stake in shares of Coeur Mining in the 1st quarter worth approximately $54,000. 63.01% of the stock is owned by institutional investors.

Coeur Mining Price Performance

The stock has a market cap of $2.94 billion, a PE ratio of -23.32 and a beta of 1.64. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $6.13 and a 200 day moving average price of $5.38.

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

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.