Coeur Mining (NYSE:CDE) Hits New 12-Month High - Here's Why

Key Points

• Coeur Mining shares hit a new 52-week high, trading at $19.69, with a closing price of $19.18 on a volume of 2.45 million shares.
• Brokerages have raised their price targets for the stock, with Roth Capital setting a target at $20.00 and BMO Capital Markets increasing theirs from $11.00 to $12.00.
• The company reported significant financial growth, with a revenue increase of 116.5% year-over-year, and earnings per share exceeding analysts' expectations at $0.20.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $19.69 and last traded at $19.18, with a volume of 2452595 shares. The stock had previously closed at $18.73.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDE. Roth Capital set a $20.00 price objective on shares of Coeur Mining and gave the company a "buy" rating in a research note on Friday. National Bankshares set a $12.00 price target on shares of Coeur Mining in a research report on Friday, June 13th. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research note on Saturday, September 27th. BMO Capital Markets upped their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Zacks Research upgraded Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $10.79.

Coeur Mining Stock Performance

The stock has a 50-day moving average of $13.74 and a 200 day moving average of $9.72. The firm has a market capitalization of $12.43 billion, a P/E ratio of 52.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $438.40 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business's revenue was up 116.5% on a year-over-year basis. On average, research analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at Coeur Mining

In related news, CEO Mitchell J. Krebs sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $14.65, for a total value of $1,831,250.00. Following the completion of the sale, the chief executive officer owned 2,197,309 shares of the company's stock, valued at $32,190,576.85. This trade represents a 5.38% 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. Also, 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 owned 568,623 shares of the company's stock, valued at $6,823,476. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 516,619 shares of company stock worth $6,626,362. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in Coeur Mining by 150.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock valued at $1,277,000 after purchasing an additional 129,574 shares during the period. Range Financial Group LLC bought a new stake in shares of Coeur Mining during the second quarter worth approximately $1,115,000. Wealth Enhancement Advisory Services LLC acquired a new position in Coeur Mining in the first quarter valued at approximately $540,000. Allspring Global Investments Holdings LLC boosted its stake in Coeur Mining by 3,091.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock valued at $6,050,000 after acquiring an additional 989,952 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Coeur Mining by 17,945.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 32,843 shares of the basic materials company's stock worth $291,000 after acquiring an additional 32,661 shares during the period. Institutional investors own 63.01% of the company's stock.

Coeur Mining Company Profile

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.