Coeur Mining (NYSE:CDE) Stock Price Up 5% – Here’s Why

Shares of Coeur Mining, Inc. (NYSE:CDE) shot up 5% during mid-day trading on Tuesday . The stock traded as high as $5.51 and last traded at $5.39. 1,495,111 shares traded hands during trading, a decline of 85% from the average session volume of 10,039,466 shares. The stock had previously closed at $5.13.

Analysts Set New Price Targets

Several research firms have issued reports on CDE. Cormark raised Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. TD Cowen raised Coeur Mining to a “strong-buy” rating in a research note on Tuesday. TD Securities began coverage on Coeur Mining in a report on Tuesday. They set a “buy” rating and a $7.00 price target for the company. Roth Mkm reduced their target price on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets began coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of “Buy” and a consensus price target of $8.05.

Coeur Mining Stock Performance

The stock has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $6.35. The company has a market cap of $3.69 billion, a P/E ratio of 47.80 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. On average, equities analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coeur Mining news, CFO Thomas S. Whelan purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 668,450 shares in the company, valued at $3,509,362.50. This represents a 1.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coeur Mining

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Coeur Mining by 139.8% in the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 3,359 shares during the last quarter. Quarry LP increased its stake in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 5,968 shares during the period. Optiver Holding B.V. increased its stake in Coeur Mining by 150.5% in the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 4,903 shares during the period. FNY Investment Advisers LLC acquired a new position in Coeur Mining in the fourth quarter valued at about $57,000. Finally, ZEGA Investments LLC acquired a new position in shares of Coeur Mining during the fourth quarter worth approximately $64,000. Institutional investors and hedge funds 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.