Coeur Mining (NYSE:CDE) Price Target Raised to $12.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Coeur Mining from $11.00 to $12.00, indicating a potential upside of 21.27% from the current stock price.
• The company reported $0.20 earnings per share for the last quarter, exceeding analysts' expectations of $0.18, with revenue increasing by 116.5% year-over-year.
• Insiders have sold a total of 90,061 shares of Coeur Mining stock in the past three months, leading to a decrease in their ownership percentage to 1.50% of the company.

Coeur Mining (NYSE:CDE - Get Free Report) had its price target boosted by stock analysts at BMO Capital Markets from $11.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the basic materials company's stock. BMO Capital Markets' target price would suggest a potential upside of 21.27% from the stock's current price.

Other equities analysts have also issued reports about the company. National Bankshares set a $12.00 price target on Coeur Mining in a research note on Friday, June 13th. Roth Capital restated a "buy" rating and issued a $12.00 price target (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $9.64.

Coeur Mining Stock Performance

NYSE:CDE opened at $9.90 on Thursday. The stock's 50-day moving average is $9.08 and its 200-day moving average is $7.21. Coeur Mining has a 1-year low of $4.58 and a 1-year high of $9.97. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The stock has a market cap of $6.33 billion, a P/E ratio of 38.06 and a beta of 1.16.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. Coeur Mining's quarterly revenue was up 116.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. Equities research analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current year.

Insider Activity at Coeur Mining

In other news, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the transaction, the director directly owned 188,362 shares in the company, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total value of $134,362.80. Following the transaction, the director directly owned 101,841 shares of the company's stock, valued at $797,415.03. The trade was a 14.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,061 shares of company stock worth $667,775. Company 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 business. MAI Capital Management bought a new position in shares of Coeur Mining in the first quarter worth approximately $25,000. Summer Road LLC purchased a new stake in shares of Coeur Mining during the 1st quarter valued at $28,000. City State Bank lifted its holdings in shares of Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after acquiring an additional 2,274 shares during the last quarter. Quarry LP grew its position in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after acquiring an additional 5,968 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 4,903 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

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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