Canaccord Genuity Group Raises Coeur Mining (NYSE:CDE) Price Target to $7.75

Coeur Mining (NYSE:CDE) had its price target lifted by analysts at Canaccord Genuity Group from $7.00 to $7.75 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 25.40% from the stock’s current price.

A number of other brokerages have also commented on CDE. Raymond James lifted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. Roth Mkm boosted their target price on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets boosted their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Stock Down 0.2 %

NYSE CDE traded down $0.01 during trading hours on Tuesday, reaching $6.18. 9,812,012 shares of the company’s stock traded hands, compared to its average volume of 7,515,802. Coeur Mining has a 52-week low of $2.00 and a 52-week high of $7.72. The firm has a market cap of $2.47 billion, a PE ratio of -19.94 and a beta of 1.65. The firm has a 50-day simple moving average of $6.25 and a 200 day simple moving average of $5.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $222.03 million during 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 revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. Sell-side analysts anticipate that Coeur Mining will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CDE. SG Americas Securities LLC grew its holdings in shares of Coeur Mining by 32.7% in the third quarter. SG Americas Securities LLC now owns 63,454 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 15,621 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Coeur Mining in the second quarter worth about $49,000. SPC Financial Inc. bought a new position in Coeur Mining during the 2nd quarter worth about $65,000. The Manufacturers Life Insurance Company grew its holdings in Coeur Mining by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 226,406 shares of the basic materials company’s stock worth $1,272,000 after acquiring an additional 51,474 shares in the last quarter. Finally, Millennium Management LLC increased its position in Coeur Mining by 2.6% during the 2nd quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after purchasing an additional 72,423 shares during the period. Hedge funds and other 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.