Coeur Mining Inc. (CDE) Shares Gap Up to $12.59
Coeur Mining Inc. (NYSE:CDE) gapped up before the market opened on Wednesday . The stock had previously closed at $12.51, but opened at $12.59. Coeur Mining shares last traded at $12.83, with a volume of 2,788,254 shares traded.
CDE has been the subject of several recent analyst reports. Royal Bank Of Canada upgraded Coeur Mining from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 14th. Deutsche Bank AG restated a “sell” rating on shares of Coeur Mining in a research note on Thursday, July 7th. Raymond James Financial Inc. upgraded Coeur Mining from a “market perform” rating to an “outperform” rating in a research note on Monday, June 27th. CIBC upgraded Coeur Mining from a “sector underperform” rating to a “sector perform” rating in a research note on Tuesday, August 30th. Finally, Zacks Investment Research upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Thursday, June 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.05.
The company has a 50-day moving average of $14.20 and a 200-day moving average of $9.99. The stock’s market cap is $2.16 billion.
Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The business earned $182 million during the quarter, compared to analyst estimates of $173.92 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Coeur Mining Inc. will post $0.27 EPS for the current year.
In other news, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $12.55, for a total value of $125,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter C. Mitchell sold 16,157 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $15.88, for a total value of $256,573.16. Following the completion of the sale, the chief financial officer now owns 270,260 shares of the company’s stock, valued at approximately $4,291,728.80. The disclosure for this sale can be found here. 1.53% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its stake in Coeur Mining by 129.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,001,561 shares of the company’s stock worth $5,629,000 after buying an additional 565,686 shares during the period. UBS Group AG raised its stake in Coeur Mining by 164.7% in the first quarter. UBS Group AG now owns 34,941 shares of the company’s stock worth $196,000 after buying an additional 88,976 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Coeur Mining by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 97,299 shares of the company’s stock worth $547,000 after buying an additional 966 shares during the period. Teachers Advisors Inc. raised its stake in Coeur Mining by 589.1% in the first quarter. Teachers Advisors Inc. now owns 1,579,196 shares of the company’s stock worth $8,875,000 after buying an additional 1,350,035 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Coeur Mining by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 743,921 shares of the company’s stock worth $7,930,000 after buying an additional 89,647 shares during the period. Institutional investors and hedge funds own 69.47% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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