Raymond James Upgrades Coeur Mining (NYSE:CDE) to Outperform

Raymond James upgraded shares of Coeur Mining (NYSE:CDE) from a market perform rating to an outperform rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $8.25 price target on the basic materials company’s stock, down from their previous price target of $8.75.

Several other equities analysts have also recently issued reports on CDE. BMO Capital Markets assumed coverage on Coeur Mining in a research note on Tuesday. They set an “outperform” rating and a $9.00 target price on the stock. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a research report on Thursday. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $8.50 price objective (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Finally, Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $8.31.

Coeur Mining Stock Performance

Shares of CDE stock opened at $5.45 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. Coeur Mining has a fifty-two week low of $2.42 and a fifty-two week high of $7.72. The company has a market capitalization of $2.17 billion, a P/E ratio of 45.38 and a beta of 1.59. The stock has a 50 day moving average price of $6.33 and a two-hundred day moving average price of $6.39.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $305.40 million for the quarter, compared to analysts’ expectations of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.71%. Analysts expect that Coeur Mining will post 0.58 earnings per share for the current year.

Institutional Trading of Coeur Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP raised its position in shares of Coeur Mining by 404.6% during the fourth quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after buying an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Coeur Mining during the 4th quarter valued at approximately $21,224,000. Vanguard Group Inc. grew its holdings in shares of Coeur Mining by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock valued at $232,805,000 after purchasing an additional 3,178,785 shares in the last quarter. Marshall Wace LLP increased its position in Coeur Mining by 12,934.3% in the fourth quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock worth $16,998,000 after purchasing an additional 2,948,880 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Coeur Mining by 57.8% in the 4th quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock valued at $41,245,000 after acquiring an additional 2,641,310 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.