Coeur Mining (NYSE:CDE) Shares Gap Up to $6.75

Coeur Mining, Inc. (NYSE:CDE) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.75, but opened at $7.18. Coeur Mining shares last traded at $6.92, with a volume of 680,988 shares.

Analysts Set New Price Targets

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

Coeur Mining Price Performance

The stock has a market capitalization of $2.78 billion, a PE ratio of -21.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The stock’s fifty day moving average is $6.11 and its 200-day moving average is $5.28.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data 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. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The business had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The business’s revenue was up 25.3% compared to the same quarter last year. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CDE. Tidal Investments LLC acquired a new position in Coeur Mining during the first quarter worth about $41,587,000. American Century Companies Inc. grew its holdings in Coeur Mining by 248.1% in the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after buying an additional 4,606,711 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Coeur Mining by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after acquiring an additional 3,989,352 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Coeur Mining by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after acquiring an additional 2,345,791 shares during the period. Finally, M&G Plc purchased a new position in shares of Coeur Mining during the 2nd quarter worth $9,966,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.