Coeur Mining (NYSE:CDE) Shares Gap Up - Here's What Happened

Key Points

• Coeur Mining shares experienced a gapped increase from a previous close of $13.15 to an opening of $13.79, before last trading at $13.36.
• Analysts have varied outlooks for Coeur Mining, with ratings including three strong buys, six buys, and an average target price of $9.79.
• The company reported a 116.5% year-over-year increase in revenue to $480.65 million and an earnings per share (EPS) of $0.20, exceeding estimates.

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $13.15, but opened at $13.79. Coeur Mining shares last traded at $13.36, with a volume of 3,988,461 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CDE shares. Zacks Research raised shares of Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. BMO Capital Markets lifted their price target 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 reaffirmed a "buy" rating and set a $13.00 price target on shares of Coeur Mining in a research note on Thursday, August 7th. Finally, National Bankshares set a $12.00 price target on shares of Coeur Mining in a research note on Friday, June 13th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Coeur Mining currently has a consensus rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Stock Performance

The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 39.13 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 stock's fifty day moving average is $10.47 and its two-hundred day moving average is $8.04.

Coeur Mining (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $480.65 million for the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. Coeur Mining's quarterly revenue was up 116.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. On average, analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total value of $93,520.00. Following the transaction, the senior vice president owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. This trade represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 266,619 shares of company stock worth $2,975,112. Company insiders own 1.50% of the company's stock.

Institutional Trading of Coeur Mining

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake 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 valued at $30,000 after acquiring an additional 1,435 shares during the last quarter. MAI Capital Management acquired a new stake in Coeur Mining in the 1st quarter valued at about $25,000. Luminist Capital LLC bought a new position in shares of Coeur Mining in the 2nd quarter valued at about $40,000. Summer Road LLC acquired a new stake in shares of Coeur Mining in the 1st quarter valued at approximately $28,000. Finally, City State Bank raised its position in shares of 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 acquiring an additional 2,274 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.