Coeur Mining (NYSE:CDE) Shares Gap Up to $5.56

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.56, but opened at $5.71. Coeur Mining shares last traded at $5.71, with a volume of 483,771 shares changing hands.

Wall Street Analysts Forecast Growth

CDE has been the topic of several research reports. Raymond James lifted their price objective on Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a research report on Monday, April 8th. National Bank Financial reaffirmed an “outperform spec market weight” rating on shares of Coeur Mining in a research report on Monday, April 8th. BMO Capital Markets raised Coeur Mining from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $4.25 to $5.50 in a research report on Friday, May 3rd. Roth Mkm initiated coverage on Coeur Mining in a research report on Tuesday, April 9th. They set a “buy” rating and a $5.40 price objective on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Coeur Mining in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus price target of $4.40.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99. The business has a 50-day moving average price of $5.36 and a 200 day moving average price of $3.97. The stock has a market capitalization of $2.24 billion, a P/E ratio of -18.13 and a beta of 1.76.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Coeur Mining had a negative net margin of 12.77% and a negative return on equity of 6.28%. The company had revenue of $213.10 million during the quarter, compared to analyst estimates of $203.43 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $4.86, for a total transaction of $213,840.00. Following the completion of the sale, the chief accounting officer now directly owns 140,719 shares in the company, valued at approximately $683,894.34. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Sebastian Edwards sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total value of $101,600.00. Following the completion of the sale, the director now directly owns 103,100 shares in the company, valued at approximately $523,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $4.86, for a total value of $213,840.00. Following the completion of the sale, the chief accounting officer now owns 140,719 shares of the company’s stock, valued at $683,894.34. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.

Institutional Investors Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of Coeur Mining in the 4th quarter worth $33,000. Ballentine Partners LLC purchased a new stake in shares of Coeur Mining in the 1st quarter worth $46,000. Forum Financial Management LP purchased a new stake in shares of Coeur Mining in the 4th quarter worth $40,000. StoneX Group Inc. purchased a new stake in shares of Coeur Mining in the 1st quarter worth $49,000. Finally, &PARTNERS purchased a new stake in shares of Coeur Mining in the 1st quarter worth $54,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.