Investors Purchase High Volume of Call Options on Coeur Mining (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the recipient of unusually large options trading on Tuesday. Traders acquired 7,379 call options on the stock. This represents an increase of approximately 57% compared to the average volume of 4,704 call options.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDE. Roth Mkm reduced their target price on Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a report on Friday, February 21st. Raymond James raised Coeur Mining from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $8.75 to $8.25 in a report on Friday, February 21st. TD Cowen raised Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. BMO Capital Markets started coverage on Coeur Mining in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price objective on the stock. Finally, Cormark raised Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.05.

Coeur Mining Stock Performance

Shares of CDE stock opened at $6.55 on Wednesday. The business’s 50-day moving average price is $6.17 and its 200-day moving average price is $6.35. Coeur Mining has a 12 month low of $2.98 and a 12 month high of $7.72. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 54.55 and a beta of 1.51. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The firm had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Equities research analysts forecast that Coeur Mining will post 0.58 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Thomas S. Whelan bought 10,000 shares of Coeur Mining stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $5.25 per share, with a total value of $52,500.00. Following the acquisition, the chief financial officer now owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.56% of the company’s stock.

Institutional Trading of Coeur Mining

A number of hedge funds have recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Coeur Mining during the third quarter worth about $579,000. JPMorgan Chase & Co. raised its position in shares of Coeur Mining by 88.3% during the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after acquiring an additional 665,452 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Coeur Mining during the third quarter worth about $1,311,000. BNP Paribas Financial Markets raised its position in shares of Coeur Mining by 180.7% during the third quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock worth $2,137,000 after acquiring an additional 199,919 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Coeur Mining by 595.5% during the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock worth $503,000 after acquiring an additional 75,314 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.