Coeur Mining (NYSE:CDE) Stock Price Expected to Rise, Scotiabank Analyst Says

Coeur Mining (NYSE:CDE) had its price target raised by stock analysts at Scotiabank from $27.50 to $28.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price target would indicate a potential upside of 77.97% from the stock’s current price.

CDE has been the topic of a number of other reports. Zacks Research cut Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday. Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Thursday, May 7th. Finally, Roth Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.39.

Coeur Mining Stock Performance

Coeur Mining stock traded up $0.42 during midday trading on Tuesday, reaching $16.01. 8,636,223 shares of the company traded hands, compared to its average volume of 28,632,822. The business has a 50 day moving average of $17.45 and a two-hundred day moving average of $19.70. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 13.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14. Coeur Mining has a 12 month low of $8.56 and a 12 month high of $27.77.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business’s revenue was up 137.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts predict that Coeur Mining will post 1.39 earnings per share for the current year.

Insider Transactions at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently made changes to their positions in CDE. Steadtrust LLC grew its position in Coeur Mining by 11.1% in the second quarter. Steadtrust LLC now owns 182,709 shares of the basic materials company’s stock worth $2,982,000 after acquiring an additional 18,200 shares in the last quarter. Polianta Ltd raised its position in Coeur Mining by 30.5% during the second quarter. Polianta Ltd now owns 114,200 shares of the basic materials company’s stock valued at $1,863,000 after purchasing an additional 26,700 shares during the period. GK Wealth Management LLC bought a new stake in shares of Coeur Mining in the 2nd quarter worth about $663,000. GAMMA Investing LLC grew its holdings in Coeur Mining by 87.4% during the 2nd quarter. GAMMA Investing LLC now owns 17,160 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 8,003 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Coeur Mining by 105.0% during the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock valued at $26,000 after buying an additional 820 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.