Coeur Mining’s (CDE) “Buy” Rating Reaffirmed at Roth Mkm

Coeur Mining (NYSE:CDE)‘s stock had its “buy” rating reissued by analysts at Roth Mkm in a research note issued to investors on Friday,Benzinga reports. They currently have a $8.50 price objective on the basic materials company’s stock, down from their prior price objective of $9.00. Roth Mkm’s target price would indicate a potential upside of 31.17% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets increased their price objective on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Raymond James increased their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group upped their target price on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Performance

Shares of Coeur Mining stock traded down $0.11 on Friday, reaching $6.48. 4,851,308 shares of the stock were exchanged, compared to its average volume of 7,806,860. The firm has a market capitalization of $2.59 billion, a PE ratio of -30.86 and a beta of 1.65. Coeur Mining has a 1-year low of $2.00 and a 1-year high of $7.72. The business has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $6.00. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $289.19 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The firm’s quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, research analysts anticipate that Coeur Mining will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after purchasing an additional 365,115 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Coeur Mining during the first quarter worth about $41,587,000. American Century Companies Inc. raised its position in shares of Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after buying an additional 4,606,711 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after buying an additional 72,423 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Coeur Mining by 18.5% during the first quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock worth $10,254,000 after acquiring an additional 424,835 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.