Coeur Mining (NYSE:CDE) Hits New 52-Week High - Still a Buy?

Key Points

• Coeur Mining's stock reached a new 52-week high of $19.17, closing at $18.87 with a trading volume of over 1.3 million shares.
• The company's latest earnings report showed a 20% earnings per share gain compared to analyst expectations and a staggering 116.5% increase in revenue year-over-year.
• Analysts largely maintain a positive outlook on the stock, with eight giving it a buy or higher rating and an average price target of $9.79.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $19.17 and last traded at $18.87, with a volume of 1315559 shares traded. The stock had previously closed at $18.44.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CDE shares. Roth Capital reiterated a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a research note on Thursday, August 7th. National Bankshares set a $12.00 price objective on Coeur Mining in a research report on Friday, June 13th. Zacks Research raised shares of Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets upped their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Coeur Mining has an average rating of "Buy" and an average price target of $9.79.

Coeur Mining Trading Up 2.5%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The business's 50 day simple moving average is $12.80 and its 200 day simple moving average is $9.29. The stock has a market cap of $12.15 billion, a P/E ratio of 51.13 and a beta of 1.19.

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

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the sale, the chief accounting officer owned 143,007 shares in the company, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre Beaudoin sold 48,362 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the sale, the director owned 140,000 shares of the company's stock, valued at $1,619,800. This trade represents a 25.68% decrease in their position. 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. Insiders own 1.56% of the company's stock.

Institutional Trading of Coeur Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position 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 buying an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coeur Mining by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock worth $128,774,000 after purchasing an additional 4,594,097 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after purchasing an additional 7,382,955 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Coeur Mining by 72.5% in the first 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in Coeur Mining by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company's stock worth $132,732,000 after purchasing an additional 288,626 shares during the last quarter. 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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