Traders Purchase Large Volume of Call Options on Coeur Mining (NYSE:CDE)

Key Points

• Call-option activity surged: Traders bought 26,568 CDE call options, 41% above the average daily volume.
• Coeur Mining shares rose 6.9% to $14.34 on Wednesday, though the company’s latest quarterly earnings and revenue came in below analyst estimates.
• Analysts maintain a Moderate Buy consensus rating with a $26.06 price target; company insiders sold 51,000 shares over the past three months.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors acquired 26,568 call options on the company. This represents an increase of 41% compared to the average daily volume of 18,883 call options.

Analyst Ratings Changes

A number of research firms recently issued reports on CDE. Roth Capital set a $19.00 target price on shares of Coeur Mining in a research report on Friday, August 7th. Weiss Ratings cut shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, October 27th. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Scotiabank dropped their price objective on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $26.06.

Insiders Place Their Bets

In other Coeur Mining news, Director J. Kenneth Thompson sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total value of $519,250.00. Following the transaction, the director directly owned 257,333 shares of the company's stock, valued at approximately $5,344,806.41. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Whelan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 51,000 shares of company stock worth $1,055,070. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coeur Mining

Several large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC bought a new stake in shares of Coeur Mining in the second quarter valued at $26,000. Versant Capital Management Inc lifted its position in shares of Coeur Mining by 105.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock valued at $26,000 after buying an additional 820 shares during the last quarter. Bullseye Investment Management LLC bought a new position in shares of Coeur Mining during the 2nd quarter worth $33,000. Heritage Family Offices LLP bought a new position in shares of Coeur Mining during the 3rd quarter worth $39,000. Finally, Provenance Wealth Advisors LLC purchased a new stake in Coeur Mining in the 3rd quarter worth about $42,000. Institutional investors own 63.01% of the company's stock.

Coeur Mining Stock Up 6.9%

CDE traded up $0.93 during trading on Wednesday, hitting $14.34. 12,146,180 shares of the company's stock were exchanged, compared to its average volume of 31,283,137. 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 business's 50 day moving average is $17.84 and its two-hundred day moving average is $18.87. Coeur Mining has a fifty-two week low of $12.71 and a fifty-two week high of $27.77. The stock has a market cap of $14.74 billion, a P/E ratio of 12.22 and a beta of 1.46.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The firm's quarterly revenue was up 125.8% on a year-over-year basis. During the same period last year, the business posted $0.20 earnings per share. As a group, equities analysts expect that Coeur Mining will post 0.81 earnings per share for the current fiscal year.

About Coeur Mining

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur's operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.