Coeur Mining (NYSE:CDE) Reaches New 12-Month High Following Analyst Upgrade

Coeur Mining, Inc. (NYSE:CDE) shares reached a new 52-week high during mid-day trading on Wednesday after Roth Mkm raised their price target on the stock from $8.00 to $8.50. Roth Mkm currently has a buy rating on the stock. Coeur Mining traded as high as $7.64 and last traded at $7.57, with a volume of 600299 shares. The stock had previously closed at $7.47.

CDE has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Raymond James boosted their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.83.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Coeur Mining during the second quarter valued at approximately $49,000. SPC Financial Inc. purchased a new stake in Coeur Mining in the 2nd quarter worth $65,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Coeur Mining by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 226,406 shares of the basic materials company’s stock valued at $1,272,000 after purchasing an additional 51,474 shares during the last quarter. Millennium Management LLC grew its position in shares of Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after purchasing an additional 72,423 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its holdings 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 purchasing an additional 11,651 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Stock Up 2.9 %

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 company has a fifty day moving average price of $6.14 and a 200-day moving average price of $5.41. The stock has a market capitalization of $3.07 billion, a P/E ratio of -24.11 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last posted its 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 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 analyst estimates of $242.18 million. During the same period last year, the firm posted ($0.06) earnings per share. Coeur Mining’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, research analysts forecast that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

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.