Coeur Mining (NYSE:CDE) Shares Up 6.6% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) shares shot up 6.6% during mid-day trading on Tuesday . The company traded as high as $6.35 and last traded at $6.33. 3,374,929 shares were traded during mid-day trading, a decline of 67% from the average session volume of 10,218,555 shares. The stock had previously closed at $5.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CDE. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BMO Capital Markets increased their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Raymond James increased their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Finally, Roth Mkm reissued a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Price Performance

The firm has a market capitalization of $2.51 billion, a PE ratio of -209.60 and a beta of 1.60. The business has a 50-day moving average of $6.31 and a 200 day moving average of $6.33. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The company had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 61.1% on a year-over-year basis. As a group, research analysts anticipate that Coeur Mining, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 3,359 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Coeur Mining during the 2nd quarter valued at about $49,000. WINTON GROUP Ltd bought a new stake in shares of Coeur Mining during the 2nd quarter valued at about $57,000. FNY Investment Advisers LLC bought a new stake in shares of Coeur Mining during the 4th quarter valued at about $57,000. Finally, SPC Financial Inc. bought a new stake in shares of Coeur Mining during the 2nd quarter valued at about $65,000. Institutional investors own 63.01% of the company’s stock.

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.