Coeur Mining Inc. (CDE) Rating Lowered to Buy at Vetr Inc.
Coeur Mining Inc. (NYSE:CDE) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $11.10 target price on the stock. Vetr‘s price target would suggest a potential downside of 1.25% from the company’s current price.
CDE has been the topic of a number of other reports. Royal Bank Of Canada began coverage on Coeur Mining in a research report on Tuesday, June 21st. They set a “sector perform” rating and a $9.00 target price on the stock. Deutsche Bank AG upgraded Coeur Mining from a “sell” rating to a “hold” rating and boosted their target price for the stock from $7.50 to $11.00 in a research report on Monday, October 3rd. Raymond James Financial Inc. upgraded Coeur Mining from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Roth Capital set a $16.00 target price on Coeur Mining and gave the stock a “buy” rating in a research report on Monday, October 10th. Finally, Barclays PLC boosted their target price on Coeur Mining and gave the stock an “outperform” rating in a research report on Monday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.11.
Coeur Mining (NYSE:CDE) opened at 11.24 on Monday. Coeur Mining has a 12-month low of $1.62 and a 12-month high of $16.41. The stock’s market capitalization is $1.82 billion. The stock’s 50 day moving average price is $12.26 and its 200-day moving average price is $10.79.
Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $182 million for the quarter, compared to the consensus estimate of $173.92 million. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. Coeur Mining’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. Analysts expect that Coeur Mining will post $0.35 earnings per share for the current year.
In related news, CFO Peter C. Mitchell sold 10,000 shares of Coeur Mining stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $12.55, for a total transaction of $125,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark Spurbeck sold 4,565 shares of Coeur Mining stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $15.75, for a total value of $71,898.75. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CDE. Van ECK Associates Corp increased 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 worth $224,079,000 after buying an additional 12,598,170 shares during the period. Vanguard Group Inc. increased its stake in Coeur Mining by 2.8% in the second quarter. Vanguard Group Inc. now owns 10,965,958 shares of the company’s stock worth $116,897,000 after buying an additional 293,836 shares during the period. GMT Capital Corp increased its stake in 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 period. State Street Corp increased its stake in Coeur Mining by 10.3% in the first quarter. State Street Corp now owns 6,231,980 shares of the company’s stock worth $35,027,000 after buying an additional 582,163 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Coeur Mining by 16.5% in the second quarter. BlackRock Fund Advisors now owns 3,875,730 shares of the company’s stock worth $41,315,000 after buying an additional 549,240 shares during the period. 69.43% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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