Coeur Mining (NYSE:CDE) Stock Price Up 3.5% - Here's What Happened

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares rose 3.5% during mid-day trading on Wednesday . The stock traded as high as $8.39 and last traded at $8.37. Approximately 1,893,042 shares traded hands during trading, a decline of 85% from the average daily volume of 12,369,271 shares. The stock had previously closed at $8.08.

Analyst Upgrades and Downgrades

CDE has been the topic of several recent research reports. Cormark upgraded Coeur Mining to a "moderate buy" rating in a research report on Thursday, February 20th. Raymond James reiterated an "outperform" rating and issued a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Friday, March 21st. BMO Capital Markets assumed coverage on Coeur Mining in a research note on Tuesday, February 18th. They issued an "outperform" rating and a $9.00 target price for the company. Finally, Roth Mkm reduced their target price on Coeur Mining from $8.50 to $8.25 and set a "buy" rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $8.10.

Coeur Mining Stock Up 2.8%

The stock has a market capitalization of $5.31 billion, a PE ratio of 69.13 and a beta of 1.24. The firm's fifty day moving average is $6.26 and its 200-day moving average is $6.25. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50.

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, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The firm's quarterly revenue was up 69.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Activity

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the transaction, the chief accounting officer now owns 122,104 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction on 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 now owns 188,362 shares in the company, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,061 shares of company stock worth $667,775 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coeur Mining

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

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