Coeur Mining (NYSE:CDE) Reaches New 12-Month High - What's Next?

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.18 and last traded at $8.00, with a volume of 2253278 shares trading hands. The stock had previously closed at $7.81.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDE. TD Securities initiated coverage on Coeur Mining in a research report on Tuesday, March 11th. They set a "buy" rating and a $7.00 price objective on the stock. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a report on Friday, March 21st. Cormark upgraded Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Raymond James reiterated an "outperform" rating and issued a $8.50 price target on shares of Coeur Mining in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $8.10.

Coeur Mining Price Performance

The firm has a fifty day simple moving average of $6.38 and a 200 day simple moving average of $6.29. The company has a market capitalization of $5.18 billion, a PE ratio of 67.51 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. During the same quarter in the prior year, the company posted ($0.05) EPS. Coeur Mining's revenue for the quarter was up 69.0% on a year-over-year basis. Equities analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.40, for a total value of $91,390.00. Following the transaction, the chief accounting officer now directly owns 122,104 shares in the company, valued at approximately $903,569.60. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pierre Beaudoin sold 60,551 shares of the business's 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 transaction, the director now owns 188,362 shares in the company, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their ownership of the stock. 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. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDE. 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 acquiring an additional 23,303,638 shares during the period. Dimensional Fund Advisors LP lifted its position in Coeur Mining by 26.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock worth $128,774,000 after acquiring an additional 4,594,097 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $106,801,000 after acquiring an additional 7,579,901 shares during the period. Tidal Investments LLC lifted its position in Coeur Mining by 11.1% during the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock worth $76,326,000 after acquiring an additional 1,332,684 shares during the period. Finally, Sprott Inc. lifted its position in Coeur Mining by 889.3% during the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock worth $66,963,000 after acquiring an additional 10,180,102 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.