Coeur Mining (NYSE:CDE) Trading 8.7% Higher – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE)’s share price shot up 8.7% during mid-day trading on Thursday . The company traded as high as $6.23 and last traded at $6.22. 6,799,536 shares traded hands during trading, a decline of 16% from the average session volume of 8,065,218 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

CDE has been the topic of several recent analyst reports. Raymond James boosted their price objective on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a report on Friday, September 20th. Canaccord Genuity Group upped their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets lifted their target price on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Trading Down 2.4 %

The company has a fifty day moving average price of $6.34 and a 200-day moving average price of $6.30. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -201.60 and a beta of 1.60. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The firm had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Coeur Mining’s revenue for the quarter was up 61.1% on a year-over-year basis. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 3,359 shares during the period. JPMorgan Chase & Co. lifted its stake 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 buying an additional 665,452 shares during the period. Franklin Resources Inc. acquired a new stake in Coeur Mining during the third quarter worth about $423,000. Virtu Financial LLC bought a new position in Coeur Mining during the third quarter valued at about $119,000. Finally, Geode Capital Management LLC increased its stake in Coeur Mining by 1.0% during the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after acquiring an additional 89,863 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.