BMO Capital Markets Raises Coeur Mining (NYSE:CDE) Price Target to $8.00

Coeur Mining (NYSE:CDE) had its price target raised by stock analysts at BMO Capital Markets from $7.50 to $8.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 12.99% from the company’s previous close.

CDE has been the topic of several other reports. Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Raymond James lifted their target price on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Roth Mkm reissued a “buy” rating and set a $8.00 target price (up from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.67.

Coeur Mining Trading Up 1.6 %

Shares of NYSE:CDE traded up $0.11 during trading on Monday, hitting $7.08. The company had a trading volume of 391,518 shares, compared to its average volume of 7,389,767. The company has a fifty day simple moving average of $6.12 and a two-hundred day simple moving average of $5.36. Coeur Mining has a one year low of $2.00 and a one year high of $7.39. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -22.42 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.

Coeur Mining (NYSE:CDE) last announced its earnings results 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. The business had revenue of $222.03 million for the quarter, compared to the consensus estimate of $242.18 million. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. As a group, equities analysts forecast that Coeur Mining will post 0.08 earnings per share for the current year.

Institutional Trading of Coeur Mining

A number of hedge funds have recently bought and sold shares of CDE. Victory Capital Management Inc. boosted its position in Coeur Mining by 33.7% during the fourth quarter. Victory Capital Management Inc. now owns 50,847 shares of the basic materials company’s stock valued at $166,000 after purchasing an additional 12,813 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coeur Mining by 9.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,561,874 shares of the basic materials company’s stock worth $14,871,000 after buying an additional 408,122 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Coeur Mining by 24.2% during the fourth quarter. BNP Paribas Financial Markets now owns 130,076 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 25,303 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Coeur Mining by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock worth $52,445,000 after purchasing an additional 84,920 shares during the last quarter. Finally, Evoke Wealth LLC acquired a new position in shares of Coeur Mining during the fourth quarter worth $64,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.