Coeur Mining (NYSE:CDE) Upgraded at Zacks Research

Key Points

• Coeur Mining has been upgraded to a "hold" rating by analysts at Zacks Research, indicating a shift in market sentiment towards the stock.
• In recent reports, multiple analysts including BMO Capital Markets and Roth Capital have raised their price targets, suggesting an optimistic outlook for Coeur Mining's future performance.
• The company reported a 116.5% increase in revenue year-over-year, with earnings per share surpassing analysts' expectations, reflecting strong financial growth.

Coeur Mining (NYSE:CDE - Get Free Report) was upgraded by analysts at Zacks Research to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on CDE. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. BMO Capital Markets raised their price target on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Roth Capital reiterated a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a research note on Thursday, August 7th. Finally, National Bankshares set a $12.00 price target on Coeur Mining in a research note on Friday, June 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has an average rating of "Buy" and a consensus price target of $9.79.

Coeur Mining Trading Down 2.1%

NYSE CDE opened at $11.58 on Tuesday. The firm has a market cap of $7.44 billion, a P/E ratio of 31.30 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The stock's 50-day moving average is $9.46 and its 200-day moving average is $7.45. Coeur Mining has a one year low of $4.58 and a one year high of $11.97.

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

Insider Buying and Selling

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the sale, the chief accounting officer owned 143,007 shares of the company's stock, valued at approximately $1,661,741.34. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the completion of the sale, the director directly owned 140,000 shares of the company's stock, valued at approximately $1,619,800. The trade was a 25.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,522 shares of company stock worth $1,882,391 over the last quarter. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently modified their holdings of CDE. Ameritas Investment Partners Inc. lifted its position in Coeur Mining by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 65,416 shares of the basic materials company's stock valued at $580,000 after purchasing an additional 1,183 shares in the last quarter. BFI Infinity Ltd. increased its holdings in shares of Coeur Mining by 3.2% in the second quarter. BFI Infinity Ltd. now owns 43,560 shares of the basic materials company's stock worth $386,000 after purchasing an additional 1,355 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 worth $30,000 after purchasing an additional 1,435 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Coeur Mining by 7.2% in the second quarter. Janney Montgomery Scott LLC now owns 23,702 shares of the basic materials company's stock worth $210,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Plancorp LLC increased its stake in Coeur Mining by 0.5% during the first quarter. Plancorp LLC now owns 300,790 shares of the basic materials company's stock worth $1,781,000 after acquiring an additional 1,617 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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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