Coeur Mining (NYSE:CDE) Shares Gap Up - Still a Buy?

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $8.96, but opened at $9.46. Coeur Mining shares last traded at $9.63, with a volume of 6,362,980 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDE. Raymond James reiterated an "outperform" rating and set a $8.50 target price on shares of Coeur Mining in a research note on Wednesday, April 2nd. Cormark upgraded Coeur Mining to a "moderate buy" rating in a research note on Thursday, February 20th. TD Securities began coverage on Coeur Mining in a report on Tuesday, March 11th. They issued a "buy" rating and a $7.00 target price on the stock. TD Cowen raised Coeur Mining to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Roth Mkm lowered their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a "buy" rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $8.10.

Coeur Mining Stock Performance

The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 78.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. The company's fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $6.38.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. During the same quarter last year, the company posted ($0.05) EPS. The business's quarterly revenue was up 69.0% on a year-over-year basis. Equities research 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, Director Pierre Beaudoin sold 60,551 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the sale, the director now owns 188,362 shares in the company, valued at $1,375,042.60. This represents a 24.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total transaction of $134,362.80. Following the transaction, the director now owns 101,841 shares in the company, valued at approximately $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,061 shares of company stock worth $667,775 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Coeur Mining by 57.3% in the first quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after buying an additional 23,303,638 shares during the last quarter. Sprott Inc. raised its stake in shares of Coeur Mining by 889.3% in the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after acquiring an additional 10,180,102 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Coeur Mining by 72.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock worth $106,801,000 after purchasing an additional 7,579,901 shares during the last quarter. Pale Fire Capital SE acquired a new stake in Coeur Mining in the 1st quarter worth approximately $29,143,000. Finally, Nuveen LLC bought a new stake in Coeur Mining during the first quarter worth approximately $27,519,000. 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.