Coeur Mining (NYSE:CDE) Reaches New 52-Week High - Time to Buy?

Key Points

• Coeur Mining shares reached a new 12-month high, trading at $13.79, with significant trading volume of over 20 million shares.
• Analysts have a positive outlook on the stock, with three firms issuing a Strong Buy rating and a consensus target price of $9.79.
• The company's recent earnings report showed a 116.5% increase in revenue year-over-year, reporting $480.65 million and beating estimates by $42.25 million.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $13.79 and last traded at $13.65, with a volume of 20697033 shares trading hands. The stock had previously closed at $13.15.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CDE shares. Roth Capital reaffirmed a "buy" rating and issued a $13.00 target price on shares of Coeur Mining in a research report on Thursday, August 7th. National Bankshares set a $12.00 price target on shares of Coeur Mining in a research note on Friday, June 13th. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. BMO Capital Markets boosted their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Coeur Mining to a "hold" rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $9.79.

Coeur Mining Trading Up 4.3%

The firm's 50 day simple moving average is $10.59 and its two-hundred day simple moving average is $8.09. 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 stock has a market cap of $9.45 billion, a P/E ratio of 39.74 and a beta of 1.19.

Coeur Mining (NYSE:CDE - Get Free Report) last announced 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 the consensus estimate of $438.40 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company's revenue for the quarter was up 116.5% compared to the same quarter last year. As a group, equities research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Pierre Beaudoin sold 48,362 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction of $559,548.34. Following the completion of the transaction, the director owned 140,000 shares in the company, valued at approximately $1,619,800. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Aoife Mcgrath sold 8,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the transaction, the senior vice president directly owned 203,318 shares of the company's stock, valued at $2,376,787.42. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,619 shares of company stock valued at $2,975,112 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

A number of hedge funds have recently made changes to their positions in CDE. MAI Capital Management bought a new stake in Coeur Mining during the 1st quarter valued at $25,000. Summer Road LLC bought a new stake in shares of Coeur Mining during the first quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its holdings in Coeur Mining by 74.2% in the second 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 grew its position in Coeur Mining by 56.9% in 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 acquired a new position in Coeur Mining during the 2nd quarter valued at about $40,000. 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.