Coeur Mining (NYSE:CDE) Sees Strong Trading Volume

Shares of Coeur Mining, Inc. (NYSE:CDE) saw unusually-strong trading volume on Wednesday . Approximately 8,439,623 shares traded hands during trading, an increase of 17% from the previous session’s volume of 7,197,228 shares.The stock last traded at $5.57 and had previously closed at $5.78.

Analysts Set New Price Targets

A number of research firms recently weighed in on CDE. BMO Capital Markets lifted their target price on shares of Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a research note on Friday, July 12th. Raymond James upped their price objective on Coeur Mining from $5.75 to $6.25 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $8.00 target price (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Coeur Mining Stock Down 4.5 %

The stock has a market cap of $2.20 billion, a P/E ratio of -18.65 and a beta of 1.60. The company’s fifty day moving average price is $5.90 and its 200-day moving average price is $4.67. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $222.03 million during the quarter, compared to analyst estimates of $242.18 million. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. Coeur Mining’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Equities analysts forecast that Coeur Mining, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds have recently made changes to their positions in the company. CWM LLC lifted its position in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 4,490 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in Coeur Mining during the fourth quarter worth $33,000. Forum Financial Management LP bought a new stake in Coeur Mining during the 4th quarter valued at $40,000. Ballentine Partners LLC purchased a new position in shares of Coeur Mining in the 1st quarter valued at $46,000. Finally, StoneX Group Inc. bought a new position in shares of Coeur Mining in the 1st quarter worth $49,000. 63.01% of the stock is currently 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.