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

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $7.85 and last traded at $7.85, with a volume of 29929871 shares changing hands. The stock had previously closed at $6.97.

Analysts Set New Price Targets

CDE has been the topic of several analyst reports. BMO Capital Markets started coverage on Coeur Mining in a report on Tuesday, February 18th. They issued an "outperform" rating and a $9.00 target price on the stock. Cormark raised Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. Raymond James restated an "outperform" rating and issued a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. Roth Mkm decreased their target price on Coeur Mining from $8.50 to $8.25 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, TD Securities began coverage on Coeur Mining in a research note on Tuesday, March 11th. They issued a "buy" rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Coeur Mining presently has a consensus rating of "Buy" and a consensus price target of $8.10.

Coeur Mining Stock Down 1.6%

The business has a 50 day moving average of $5.95 and a 200-day moving average of $6.17. The stock has a market cap of $4.65 billion, a PE ratio of 60.80 and a beta of 1.24. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50.

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

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction that occurred 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 of the company's stock, valued at $903,569.60. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas S. Whelan acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the acquisition, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Coeur Mining by 59.2% during the third quarter. Barclays PLC now owns 962,652 shares of the basic materials company's stock valued at $6,624,000 after purchasing an additional 358,097 shares during the last quarter. GAMMA Investing LLC raised its position in Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company's stock worth $33,000 after purchasing an additional 3,359 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Coeur Mining in the 4th quarter worth about $57,000. Contravisory Investment Management Inc. bought a new stake in Coeur Mining in the 4th quarter valued at about $267,000. Finally, Merit Financial Group LLC increased its holdings in Coeur Mining by 5.4% during the 4th quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company's stock worth $181,000 after purchasing an additional 1,607 shares in the last quarter. 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.