Coeur Mining (NYSE:CDE) Sets New 52-Week High - Should You Buy?

Key Points

• Coeur Mining shares reached a new 52-week high of $14.93, closing at $14.54, with significant trading volume of over 16 million shares.
• Analysts maintain a generally positive outlook for Coeur Mining, with three analysts recommending a Strong Buy rating and an average price target of $9.79.
• In recent insider trading, CEO Mitchell J. Krebs sold 125,000 shares valued at approximately $1.83 million, resulting in a decrease of 5.38% in ownership.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $14.93 and last traded at $14.54, with a volume of 16198046 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CDE shares. National Bankshares set a $12.00 target price 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 increased 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. Roth Capital restated a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 42.01 and a beta of 1.19. The stock's 50-day moving average is $11.19 and its 200 day moving average is $8.46.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The firm's revenue was up 116.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. As a group, analysts predict 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 Coeur Mining stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction of $559,548.34. Following the sale, the director owned 140,000 shares of the company's stock, valued at approximately $1,619,800. The trade was a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,619 shares of company stock worth $6,626,362. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in shares of Coeur Mining by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 65,416 shares of the basic materials company's stock valued at $580,000 after acquiring an additional 1,183 shares during the period. BFI Infinity Ltd. lifted its position in shares of Coeur Mining by 3.2% during the 2nd quarter. BFI Infinity Ltd. now owns 43,560 shares of the basic materials company's stock valued at $386,000 after acquiring an additional 1,355 shares during the period. EverSource Wealth Advisors LLC increased 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Coeur Mining by 7.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,702 shares of the basic materials company's stock worth $210,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Plancorp LLC increased its stake in shares of Coeur Mining by 0.5% during the 1st quarter. Plancorp LLC now owns 300,790 shares of the basic materials company's stock worth $1,781,000 after purchasing an additional 1,617 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.