Coeur Mining (NYSE:CDE) Shares Gap Up - Time to Buy?

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $9.11, but opened at $9.54. Coeur Mining shares last traded at $9.39, with a volume of 2,424,408 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on CDE. National Bankshares set a $12.00 target price on Coeur Mining in a research note on Friday, June 13th. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Roth Capital reaffirmed a "buy" rating and set a $12.00 price objective (up previously from $10.00) on shares of Coeur Mining in a research report on Tuesday, July 1st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Coeur Mining presently has an average rating of "Buy" and an average price target of $9.21.

Coeur Mining Trading Up 5.3%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93. The business's 50 day moving average price is $8.42 and its 200-day moving average price is $6.83. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 36.89 and a beta of 1.32.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company's quarterly revenue was up 69.0% compared to the same quarter last year. On average, research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Activity at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.40, for a total transaction of $91,390.00. Following the completion of the transaction, the chief accounting officer directly owned 122,104 shares of the company's stock, valued at $903,569.60. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the transaction, the director owned 188,362 shares in the company, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock valued at $667,775 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Coeur Mining

Several hedge funds have recently modified their holdings of the company. MAI Capital Management bought a new stake in Coeur Mining during the 1st quarter worth approximately $25,000. Summer Road LLC acquired a new position in Coeur Mining in the first quarter worth $28,000. City State Bank grew its holdings in shares of Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after purchasing an additional 2,274 shares during the last quarter. Quarry LP grew its holdings in shares of Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after purchasing an additional 5,968 shares during the last quarter. Finally, Optiver Holding B.V. increased its stake in shares of Coeur Mining by 150.5% in the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after buying an additional 4,903 shares in the last quarter. Institutional investors and hedge funds 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.