Coeur Mining (NYSE:CDE) PT Raised to $7.00

Coeur Mining (NYSE:CDE) had its target price lifted by equities research analysts at Raymond James from $6.25 to $7.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. Raymond James’ price target would suggest a potential downside of 1.13% from the stock’s current price.

CDE has been the topic of several other reports. Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $8.00 price objective (up from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. Finally, BMO Capital Markets raised their target price on shares of Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Coeur Mining Stock Up 2.5 %

Shares of NYSE CDE traded up $0.17 during mid-day trading on Friday, hitting $7.08. The company had a trading volume of 1,351,256 shares, compared to its average volume of 7,373,694. 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 50-day simple moving average of $6.12 and a two-hundred day simple moving average of $5.30. The company has a market capitalization of $2.83 billion, a PE ratio of -22.74 and a beta of 1.64. Coeur Mining has a one year low of $2.00 and a one year high of $7.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share 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 firm had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. During the same period last year, the company earned ($0.06) earnings per share. The business’s revenue was up 25.3% compared to the same quarter last year. On average, equities analysts expect that Coeur Mining will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Coeur Mining

Large investors have recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Coeur Mining by 831.5% during the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after buying an additional 4,490 shares during the period. Ballentine Partners LLC bought a new stake in shares of Coeur Mining during the first quarter worth approximately $46,000. StoneX Group Inc. bought a new stake in shares of Coeur Mining during the first quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Coeur Mining in the second quarter valued at approximately $49,000. Finally, &PARTNERS bought a new position in shares of Coeur Mining during the first quarter worth approximately $54,000. 63.01% of the stock is owned by 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.