Coeur Mining Inc. (CDE) Stock Rating Upgraded by Deutsche Bank AG
Coeur Mining Inc. (NYSE:CDE) was upgraded by research analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a report released on Monday. The firm currently has a $11.00 price objective on the stock, up from their previous price objective of $7.50. Deutsche Bank AG’s price objective indicates a potential upside of 3.77% from the stock’s current price.
Other analysts have also recently issued research reports about the company. Roth Capital restated a “buy” rating on shares of Coeur Mining in a research note on Monday, June 27th. Zacks Investment Research upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Thursday, June 9th. Royal Bank Of Canada upgraded Coeur Mining from a “sector perform” rating to an “outperform” rating in a research report on Thursday, July 14th. Barclays PLC increased their price target on Coeur Mining and gave the stock an “outperform” rating in a research report on Monday, June 27th. Finally, Raymond James Financial Inc. upgraded Coeur Mining from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.00.
Shares of Coeur Mining (NYSE:CDE) opened at 10.60 on Monday. Coeur Mining has a 52-week low of $1.62 and a 52-week high of $16.41. The firm’s 50-day moving average price is $13.23 and its 200-day moving average price is $10.48. The stock’s market capitalization is $1.72 billion.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $182 million for the quarter, compared to analysts’ expectations of $173.92 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. Coeur Mining’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts forecast that Coeur Mining will post $0.33 earnings per share for the current fiscal year.
In related news, CFO Peter C. Mitchell sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this link. Also, SVP Hans John Rasmussen sold 3,477 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $15.00, for a total value of $52,155.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares in the last quarter. Bogle Investment Management L P DE acquired a new stake in Coeur Mining during the first quarter valued at approximately $13,022,000. Sprott Inc. raised its position in shares of Coeur Mining by 495.2% in the second quarter. Sprott Inc. now owns 1,819,600 shares of the company’s stock worth $19,397,000 after buying an additional 1,513,900 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of 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 last quarter. Finally, GMT Capital Corp raised its position in shares of Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock worth $69,679,000 after buying an additional 1,258,405 shares during the last quarter. Hedge funds and other institutional investors own 69.47% of the company’s stock.
About Coeur Mining
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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