Coeur Mining (NYSE:CDE) Reaches New 1-Year High - Should You Buy?

Key Points

• Coeur Mining shares reached a new 52-week high of $12.56 during trading, reflecting strong investor interest with a volume of over 10 million shares traded.
• The company reported quarterly earnings of $0.20 per share, exceeding analyst expectations and showing a significant revenue increase of 116.5% compared to the same quarter last year.
• Following recent brokerage upgrades, Coeur Mining has an average rating of "Buy" from analysts, suggesting positive sentiment about its future performance.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $12.56 and last traded at $12.49, with a volume of 10833046 shares trading hands. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

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

Coeur Mining Stock Performance

The company has a market capitalization of $8.70 billion, a PE ratio of 36.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The business's 50-day moving average is $10.17 and its 200-day moving average is $7.90.

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 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 analyst estimates of $438.40 million. During the same period last year, the business earned ($0.01) EPS. Coeur Mining's revenue was up 116.5% compared to the same quarter last year. On average, research analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at Coeur Mining

In other news, SVP Casey M. Nault sold 102,257 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 568,623 shares of the company's stock, valued at approximately $6,823,476. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the completion of the sale, the chief accounting officer owned 143,007 shares in the company, valued at $1,661,741.34. This represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,619 shares of company stock valued at $2,975,112. Insiders own 1.56% of the company's stock.

Institutional Trading of Coeur Mining

Hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management purchased a new stake in shares of Coeur Mining during the first quarter valued at about $25,000. Summer Road LLC acquired a new stake in shares of Coeur Mining during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $30,000 after purchasing an additional 1,435 shares during the period. City State Bank lifted its position 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 valued at $37,000 after buying an additional 2,274 shares in the last quarter. Finally, Luminist Capital LLC purchased a new position in shares of 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.

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.