Coeur Mining (NYSE:CDE) Sees Large Volume Increase

Coeur Mining, Inc. (NYSE:CDE) saw strong trading volume on Monday . 7,001,197 shares were traded during mid-day trading, a decline of 5% from the previous session’s volume of 7,335,774 shares.The stock last traded at $7.01 and had previously closed at $7.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CDE. Roth Mkm restated a “buy” rating and issued a $8.00 price objective (up from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. BMO Capital Markets boosted their price objective on Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a report on Friday, July 12th. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Raymond James lifted their price target on shares of Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.44.

Coeur Mining Stock Down 3.2 %

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 firm has a market capitalization of $2.70 billion, a P/E ratio of -21.77 and a beta of 1.64. The company has a 50 day simple moving average of $6.11 and a two-hundred day simple moving average of $5.28.

Coeur Mining (NYSE:CDE) last posted its 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 firm had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. On average, equities analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Coeur Mining in the second quarter worth about $49,000. SPC Financial Inc. purchased a new stake in shares of Coeur Mining in the second quarter valued at approximately $65,000. The Manufacturers Life Insurance Company boosted its stake in shares of Coeur Mining by 29.4% in the second 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 during the last quarter. Millennium Management LLC boosted its stake in shares of Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after acquiring an additional 72,423 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in shares of Coeur Mining by 31.1% in the second quarter. Dark Forest Capital Management LP now owns 49,091 shares of the basic materials company’s stock worth $276,000 after acquiring an additional 11,651 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.