BMO Capital Markets Increases Coeur Mining (NYSE:CDE) Price Target to $8.00

Coeur Mining (NYSE:CDE) had its price target lifted by research analysts at BMO Capital Markets from $7.50 to $8.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential upside of 7.02% from the company’s current price.

A number of other research firms have also weighed in on CDE. Raymond James boosted their target price on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Roth Mkm reaffirmed a “buy” rating and issued a $8.00 price target (up previously from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Coeur Mining presently has an average rating of “Hold” and a consensus target price of $7.67.

Coeur Mining Trading Up 9.4 %

Shares of CDE stock opened at $7.48 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $6.14 and a two-hundred day moving average price of $5.41. Coeur Mining has a 12-month low of $2.00 and a 12-month high of $7.63. The firm has a market cap of $2.98 billion, a P/E ratio of -24.11 and a beta of 1.64.

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 the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The firm had revenue of $222.03 million during the quarter, compared to analyst estimates of $242.18 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue was up 25.3% compared to the same quarter last year. Equities analysts anticipate that Coeur Mining will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Coeur Mining by 831.5% during the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after buying an additional 4,490 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Coeur Mining in the 1st quarter worth approximately $46,000. StoneX Group Inc. bought a new position in shares of Coeur Mining in the 1st quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Coeur Mining in the 2nd quarter worth approximately $49,000. Finally, &PARTNERS bought a new stake in Coeur Mining during the 1st quarter worth approximately $54,000. Institutional investors 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.