Coeur Mining (NYSE:CDE) Trading 6.5% Higher – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) rose 6.5% on Monday . The stock traded as high as $5.39 and last traded at $5.18. Approximately 5,021,676 shares were traded during trading, a decline of 55% from the average daily volume of 11,130,206 shares. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDE. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. BMO Capital Markets assumed coverage on Coeur Mining in a report on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price objective for the company. Cormark raised Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. TD Securities assumed coverage on shares of Coeur Mining in a research report on Tuesday, March 11th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Roth Mkm lowered their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Coeur Mining currently has a consensus rating of “Buy” and a consensus price target of $8.10.

Coeur Mining Stock Up 3.6 %

The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.22 billion, a P/E ratio of 41.96 and a beta of 1.35. The stock’s 50-day simple moving average is $6.10 and its 200-day simple moving average is $6.34.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Coeur Mining

Several institutional investors have recently made changes to their positions in CDE. JPMorgan Chase & Co. grew its position in shares of Coeur Mining by 88.3% in the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock valued at $9,761,000 after purchasing an additional 665,452 shares in the last quarter. XTX Topco Ltd purchased a new position in Coeur Mining during the 3rd quarter valued at about $1,311,000. US Bancorp DE lifted its holdings in shares of Coeur Mining by 595.5% in the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock worth $503,000 after buying an additional 75,314 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Coeur Mining in the fourth quarter valued at approximately $267,000. Finally, FMR LLC grew its stake in Coeur Mining by 1,011.0% during the third quarter. FMR LLC now owns 137,504 shares of the basic materials company’s stock valued at $946,000 after acquiring an additional 125,127 shares in the last quarter. Hedge funds and other 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.