Coeur Mining (NYSE:CDE) Stock Price Up 7.2% After Analyst Upgrade

Coeur Mining, Inc. (NYSE:CDE) shares traded up 7.2% on Tuesday after BMO Capital Markets raised their price target on the stock from $7.50 to $8.00. BMO Capital Markets currently has an outperform rating on the stock. Coeur Mining traded as high as $7.33 and last traded at $7.32. 3,240,109 shares were traded during trading, a decline of 56% from the average session volume of 7,396,800 shares. The stock had previously closed at $6.83.

Several other equities research analysts have also issued reports on CDE. Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. Finally, Raymond James boosted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining presently has a consensus rating of “Hold” and an average target price of $7.67.

Institutional Trading of Coeur Mining

Several large investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its position in shares of Coeur Mining by 18.3% in the 2nd quarter. Ballentine Partners LLC now owns 14,435 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 2,232 shares during the period. Ameritas Investment Partners Inc. lifted its position in Coeur Mining by 12.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 35,796 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 4,030 shares during the last quarter. CWM LLC lifted its position 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 purchasing an additional 4,490 shares during the last quarter. Marotta Asset Management boosted its position in shares of Coeur Mining by 50.0% in the first quarter. Marotta Asset Management now owns 15,000 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 5,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Coeur Mining by 32.4% in the 1st quarter. Russell Investments Group Ltd. now owns 24,337 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 5,956 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Trading Up 7.8 %

The business has a 50-day moving average of $6.13 and a two-hundred day moving average of $5.38. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -23.32 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The firm had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. During the same quarter last year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. Research analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

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.