Coeur Mining (NYSE:CDE) Trading Up 9.8% - What's Next?

Key Points

• Coeur Mining shares surged 9.8% to about $20.32, although trading volume was significantly below its average session volume.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $25.50, despite several recent rating downgrades to “Hold.”
• The company’s latest quarter fell short of expectations, reporting $0.12 EPS versus $0.26 expected and $1.09 billion in revenue versus $1.24 billion forecast, though revenue increased 125.8% year over year.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares shot up 9.8% during mid-day trading on Wednesday . The company traded as high as $20.33 and last traded at $20.3170. 6,317,940 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 29,751,520 shares. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CDE shares. Roth Capital set a $19.00 target price on Coeur Mining in a report on Friday, August 7th. Zacks Research raised Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday. Cantor Fitzgerald downgraded shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective on the stock. in a report on Thursday, May 7th. Canaccord Genuity Group raised shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

Coeur Mining Price Performance

The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The company's fifty day moving average price is $16.50 and its 200 day moving average price is $18.84. The company has a market capitalization of $21.59 billion, a P/E ratio of 18.00 and a beta of 1.32.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm posted $0.20 earnings per share. The company's quarterly revenue was up 125.8% on a year-over-year basis. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 0.95 EPS for the current year.

Insider Activity at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Coeur Mining

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Coeur Mining by 83.2% in the 1st quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company's stock worth $101,919,000 after purchasing an additional 2,466,122 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock worth $222,922,000 after buying an additional 6,012,718 shares during the period. Norges Bank acquired a new stake in shares of Coeur Mining during the fourth quarter worth $128,389,000. Allspring Global Investments Holdings LLC raised its stake in Coeur Mining by 81.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company's stock worth $69,896,000 after buying an additional 1,653,323 shares during the last quarter. Finally, Electrum Group LLC bought a new position in Coeur Mining during the fourth quarter worth $8,582,000. 63.01% of the stock is owned by institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining's portfolio includes five principal operating mines and several exploration projects across North America and Australia.

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