Coeur Mining (NYSE:CDE) Reaches New 12-Month High - Still a Buy?

Key Points

• Coeur Mining, Inc. shares reached a new 52-week high of $15.90, up from a previous close of $15.53, indicating strong trading activity with a volume of over 2.6 million shares.
• Analysts have generally rated Coeur Mining positively, with three ratings for Strong Buy, six for Buy, and an average price target of $9.79, suggesting bullish sentiment in the market.
• The company reported a significant earnings performance, with a net margin of 13.06% and revenue growth of 116.5% year-over-year, exceeding analyst expectations.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $15.88 and last traded at $15.90, with a volume of 2659299 shares trading hands. The stock had previously closed at $15.53.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CDE shares. Zacks Research upgraded Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. BMO Capital Markets boosted their target price on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a research report on Friday, June 13th. Roth Capital restated a "buy" rating and set a $13.00 price objective on shares of Coeur Mining 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 note on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $9.79.

Coeur Mining Trading Up 6.9%

The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm's 50 day simple moving average is $11.92 and its two-hundred day simple moving average is $8.81. The stock has a market capitalization of $11.18 billion, a P/E ratio of 47.03 and a beta of 1.19.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The business had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same period in the prior year, the firm posted ($0.01) EPS. The firm's quarterly revenue was up 116.5% compared to the same quarter last year. As a group, analysts forecast 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 firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.62, for a total transaction 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. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Casey M. Nault sold 102,257 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $12.00, for a total value of $1,227,084.00. Following the sale, the senior vice president owned 568,623 shares in the company, valued at $6,823,476. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,619 shares of company stock worth $6,626,362 in the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CDE. MAI Capital Management bought a new stake in Coeur Mining in the first quarter worth $25,000. Summer Road LLC purchased a new stake in shares of Coeur Mining in the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its position in Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 1,435 shares in the last quarter. City State Bank boosted its position in Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 2,274 shares in the last quarter. Finally, Luminist Capital LLC bought a new stake in Coeur Mining during the 2nd quarter valued at approximately $40,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.