Coeur Mining (NYSE:CDE) Shares Up 5% - Here's Why

Key Points

• Coeur Mining's shares increased by 5% during mid-day trading, reaching a last traded price of $18.29 after a previous close at $17.42.
• Analysts have expressed optimism, with multiple upgrades including BMO Capital lifting the price target to $12.00 and several firms giving it a "Strong Buy" rating.
• The company reported impressive quarterly results, with revenues up 116.5% year-over-year, and an earnings per share (EPS) of $0.20, exceeding analyst expectations of $0.18.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares shot up 5% during mid-day trading on Thursday . The stock traded as high as $18.14 and last traded at $18.29. 7,814,008 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 16,519,074 shares. The stock had previously closed at $17.42.

Analyst Ratings Changes

CDE has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Zacks Research raised shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. National Bankshares set a $12.00 price target on shares of Coeur Mining in a research report on Friday, June 13th. Finally, Roth Capital reiterated a "buy" rating and issued a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 7th. Three equities 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Trading Up 4.7%

The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 49.26 and a beta of 1.19. The business has a fifty day moving average price of $12.44 and a 200 day moving average price of $9.06. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60.

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

Insider Activity at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the transaction, the chief accounting officer 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 sale was disclosed in a 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 dated Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the transaction, the director owned 140,000 shares in the company, valued at $1,619,800. This trade represents a 25.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 516,619 shares of company stock valued at $6,626,362. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coeur Mining

Institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of Coeur Mining by 150.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock worth $1,277,000 after buying an additional 129,574 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Coeur Mining during the 2nd quarter worth $1,115,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Coeur Mining during the 1st quarter worth $540,000. Allspring Global Investments Holdings LLC lifted its position in shares of Coeur Mining by 3,091.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock worth $6,050,000 after buying an additional 989,952 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of Coeur Mining by 71.0% during the 1st quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock worth $128,000 after buying an additional 8,943 shares during 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.

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