Coeur Mining (NYSE:CDE) Trading Up 6.7% – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE)’s share price was up 6.7% during trading on Monday . The company traded as high as $6.42 and last traded at $6.44. Approximately 6,270,642 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 10,259,549 shares. The stock had previously closed at $6.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDE shares. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $8.75 to $8.25 in a research note on Friday, February 21st. BMO Capital Markets initiated coverage on Coeur Mining in a report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, TD Securities assumed coverage on Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.05.

Coeur Mining Trading Up 6.7 %

The company has a market cap of $4.11 billion, a price-to-earnings ratio of 53.71 and a beta of 1.51. The firm has a 50 day moving average price of $6.16 and a two-hundred day moving average price of $6.35. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The business had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.32 million. As a group, equities analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Coeur Mining

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Coeur Mining during the third quarter worth $579,000. Intech Investment Management LLC purchased a new stake in Coeur Mining in the third quarter worth $642,000. Landscape Capital Management L.L.C. purchased a new stake in Coeur Mining in the third quarter worth $388,000. Navellier & Associates Inc. purchased a new stake in Coeur Mining in the third quarter worth $294,000. Finally, FMR LLC increased its position in Coeur Mining by 1,011.0% in the third quarter. FMR LLC now owns 137,504 shares of the basic materials company’s stock worth $946,000 after buying an additional 125,127 shares during the last quarter. Institutional investors and hedge funds 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.