Scotiabank Reaffirms "Sector Outperform" Rating for Coeur Mining (NYSE:CDE)

Key Points

• Scotiabank reaffirmed its "sector outperform" rating on Coeur Mining and kept a $27.50 price target, implying about 67.7% upside from the stock’s current price.
• Other analysts remain generally constructive: Coeur Mining has an average "Moderate Buy" rating and an average target price of $24.85, though views range from Strong Buy to Hold.
• The company recently reported Q1 earnings of $0.36 EPS, slightly below estimates, but revenue of $856.19 million beat expectations and jumped 137.8% year over year.

Coeur Mining (NYSE:CDE - Get Free Report)'s stock had its "sector outperform" rating reaffirmed by stock analysts at Scotiabank in a research note issued on Friday,Benzinga reports. They presently have a $27.50 price target on the basic materials company's stock. Scotiabank's price objective points to a potential upside of 67.74% from the stock's current price.

Other analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce assumed coverage on Coeur Mining in a research note on Tuesday, March 10th. They issued an "outperform" rating and a $40.00 price objective on the stock. Canaccord Genuity Group upgraded Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 27th. ATB Cormark Capital Markets raised shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, March 24th. Finally, Royal Bank Of Canada increased their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.85.

Coeur Mining Stock Up 6.4%

Shares of CDE stock opened at $16.39 on Friday. The stock has a market cap of $16.96 billion, a P/E ratio of 14.13 and a beta of 1.25. Coeur Mining has a 52 week low of $8.46 and a 52 week high of $27.77. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $18.56 and its two-hundred day simple moving average is $19.69.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The firm had revenue of $856.19 million for the quarter, compared to analysts' expectations of $815.59 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company's revenue for the quarter was up 137.8% on a year-over-year basis. Analysts predict that Coeur Mining will post 1.46 EPS for the current fiscal year.

Insider Transactions at Coeur Mining

In other Coeur Mining 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 transaction of $725,400.00. Following the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Coeur Mining

Several institutional investors and hedge funds have recently made changes to their positions in CDE. AQR Capital Management LLC lifted its holdings in Coeur Mining by 60.2% during the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company's stock worth $4,434,000 after buying an additional 281,489 shares during the period. Goldman Sachs Group Inc. boosted its position in Coeur Mining by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company's stock valued at $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Coeur Mining by 122.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company's stock valued at $14,393,000 after acquiring an additional 1,339,138 shares during the last quarter. Focus Partners Wealth purchased a new stake in Coeur Mining in the first quarter valued at $60,000. Finally, Intech Investment Management LLC boosted its stake in shares of Coeur Mining by 58.4% in the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company's stock worth $1,594,000 after buying an additional 99,256 shares during the last quarter. 63.01% of the stock is currently 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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