Coeur Mining (NYSE:CDE) Hits New 1-Year High - Time to Buy?

Key Points

• Coeur Mining's stock reached a new 52-week high of $22.39 during trading, reflecting significant investor interest with over 1.75 million shares traded.
• Wall Street analysts have shown a positive outlook for Coeur Mining, with several upgrades in ratings and price targets, including a shift from "hold" to "strong-buy" by Zacks Research.
• The company's recent earnings report indicated a substantial increase in revenue, up 116.5% from the previous year, with an EPS of $0.20, surpassing analyst expectations.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $22.39 and last traded at $22.20, with a volume of 1750098 shares trading hands. The stock had previously closed at $20.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research upgraded Coeur Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 7th. Roth Capital set a $20.00 price objective on Coeur Mining and gave the company a "buy" rating in a research report on Friday, October 3rd. Raymond James Financial set a $22.00 price objective on Coeur Mining and gave the company an "outperform" rating in a research report on Friday. BMO Capital Markets raised their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $13.54.

Coeur Mining Stock Up 7.5%

The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 60.58 and a beta of 1.23. The stock has a 50 day moving average of $15.29 and a 200 day moving average of $10.37. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The company had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. Coeur Mining's quarterly revenue was up 116.5% compared to the same quarter last year. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other news, SVP Casey M. Nault sold 102,257 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the completion of the transaction, the senior vice president directly owned 568,623 shares in the company, valued at approximately $6,823,476. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre Beaudoin sold 48,362 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the transaction, the director owned 140,000 shares of the company's stock, valued at approximately $1,619,800. This represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,619 shares of company stock valued at $6,626,362. 1.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in CDE. GAMMA Investing LLC lifted its position in Coeur Mining by 502.4% in the first quarter. GAMMA Investing LLC now owns 34,703 shares of the basic materials company's stock worth $205,000 after purchasing an additional 28,942 shares during the period. SG Americas Securities LLC acquired a new stake in Coeur Mining in the first quarter worth approximately $691,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Coeur Mining in the first quarter worth approximately $540,000. Sowell Financial Services LLC lifted its position in Coeur Mining by 11.0% in the first quarter. Sowell Financial Services LLC now owns 55,830 shares of the basic materials company's stock worth $331,000 after purchasing an additional 5,554 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in Coeur Mining by 80.0% in the first quarter. FNY Investment Advisers LLC now owns 17,999 shares of the basic materials company's stock worth $106,000 after purchasing an additional 7,999 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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