Coeur Mining (NYSE:CDE) Hits New 1-Year High on Better-Than-Expected Earnings

Key Points

• Coeur Mining, Inc. reached a new 52-week high at $10.85 after reporting better-than-expected earnings, with a quarterly EPS of $0.20 exceeding analysts' estimates of $0.18.
• Analysts have given Coeur Mining a consensus rating of “Buy” with several price targets set at $12.00, reflecting positive growth expectations.
• Institutional investors have increased their stake in Coeur Mining significantly, with Vanguard Group raising its holdings by 57.3% in the first quarter.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $10.17 and last traded at $10.85, with a volume of 401333 shares traded. The stock had previously closed at $9.89.

The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. The company's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CDE. National Bankshares set a $12.00 price target on Coeur Mining in a research report on Friday, June 13th. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Roth Capital restated a "buy" rating and set a $12.00 price target (up previously from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. Finally, BMO Capital Markets lifted their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.64.

Insider Buying and Selling at Coeur Mining

In other news, Director Eduardo Luna sold 17,160 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the sale, the director directly owned 101,841 shares of the company's stock, valued at $797,415.03. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the sale, the chief accounting officer owned 122,104 shares of the company's stock, valued at approximately $903,569.60. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,061 shares of company stock valued at $667,775. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Coeur Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Coeur Mining by 57.3% during the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after purchasing an additional 23,303,638 shares in the last quarter. Sprott Inc. boosted its holdings in shares of Coeur Mining by 889.3% in the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after buying an additional 10,180,102 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Coeur Mining by 72.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock valued at $106,801,000 after purchasing an additional 7,579,901 shares during the last quarter. Pale Fire Capital SE acquired a new stake in Coeur Mining during the 1st quarter valued at $29,143,000. Finally, Nuveen LLC acquired a new stake in shares of Coeur Mining during the first quarter worth $27,519,000. Institutional investors own 63.01% of the company's stock.

Coeur Mining Stock Up 11.3%

The company has a quick ratio of 0.62, a current ratio of 1.93 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 42.31 and a beta of 1.16. The stock has a fifty day moving average price of $9.08 and a two-hundred day moving average price of $7.21.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.