Coeur Mining (NYSE:CDE) Given New $23.50 Price Target at Scotiabank

Key Points

• Scotiabank lowered its price target on Coeur Mining from $26.50 to $23.50 but kept its “sector outperform” rating; the new target implies 43.14% upside from the prior close.
• Analysts collectively rate the stock “Moderate Buy,” with an average price target of $25.25. One analyst rates it Strong Buy, eight Buy, and three Hold.
• Coeur Mining’s latest quarter fell short of earnings and revenue estimates: EPS was $0.10 versus $0.14 expected, and revenue was $983.62 million versus $1.14 billion expected, though revenue rose 77.4% year over year.

Coeur Mining (NYSE:CDE - Get Free Report) had its target price reduced by equities research analysts at Scotiabank from $26.50 to $23.50 in a report released on Monday, Benzinga reports. The brokerage presently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's target price points to a potential upside of 43.14% from the company's previous close.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. New Street Research set a $23.50 price objective on shares of Coeur Mining in a report on Monday. Needham & Company LLC set a $23.50 price objective on shares of Coeur Mining in a report on Monday. Weiss Ratings cut shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, October 27th. Finally, Roth Capital set a $19.00 target price on shares of Coeur Mining in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Coeur Mining has an average rating of "Moderate Buy" and an average price target of $25.25.

Coeur Mining Price Performance

Shares of CDE stock traded up $0.95 during trading hours on Monday, reaching $16.42. The company had a trading volume of 6,483,642 shares, compared to its average volume of 31,439,346. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.60 and a current ratio of 3.79. The stock has a fifty day moving average of $17.43 and a 200-day moving average of $18.76. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 18.89 and a beta of 1.46. Coeur Mining has a 12-month low of $12.71 and a 12-month high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Coeur Mining had a net margin of 19.25% and a return on equity of 8.12%. The company had revenue of $983.62 million during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $0.23 EPS. Coeur Mining's revenue for the quarter was up 77.4% compared to the same quarter last year. On average, equities analysts anticipate that Coeur Mining will post 0.78 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In related news, Director J. Kenneth Thompson sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total transaction of $519,250.00. Following the completion of the transaction, the director owned 257,333 shares of the company's stock, valued at approximately $5,344,806.41. This trade represents a 8.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas S. Whelan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,000 shares of company stock valued at $1,055,070 over the last 90 days. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in Coeur Mining in the second quarter valued at approximately $26,000. Versant Capital Management Inc increased its stake in Coeur Mining by 105.0% in the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 820 shares during the last quarter. Bullseye Investment Management LLC purchased a new position in Coeur Mining in the second quarter valued at approximately $33,000. Heritage Family Offices LLP acquired a new stake in Coeur Mining during the third quarter worth approximately $39,000. Finally, Provenance Wealth Advisors LLC acquired a new stake in Coeur Mining during the third quarter worth approximately $42,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Coeur Mining

Coeur Mining, Inc is a precious metals producer focused on the exploration, development and operation of mines. The company primarily produces silver and gold, with its output also including related metals.

Coeur operates mines in the United States and Mexico. Its portfolio includes silver-and-gold operations as well as gold-focused mines, and the company also conducts exploration to identify and develop mineral resources.

Founded in 1928, Coeur Mining is headquartered in Chicago.

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