Coeur Mining Inc. (CDE) Upgraded to Buy at Zacks Investment Research
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
CDE has been the subject of several other reports. Vetr downgraded Coeur Mining from a strong-buy rating to a hold rating and set a $11.10 price objective for the company. in a research note on Thursday, October 6th. Royal Bank Of Canada assumed coverage on Coeur Mining in a research note on Tuesday, June 21st. They issued a sector perform rating and a $9.00 price objective for the company. Deutsche Bank AG raised Coeur Mining from a sell rating to a hold rating and increased their price objective for the stock from $7.50 to $11.00 in a research note on Monday, October 3rd. Raymond James Financial Inc. raised Coeur Mining from a market perform rating to an outperform rating in a research note on Monday, June 27th. Finally, Roth Capital set a $16.00 price objective on Coeur Mining and gave the stock a buy rating in a research note on Monday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $9.11.
Coeur Mining (NYSE:CDE) traded up 0.80% during mid-day trading on Tuesday, reaching $11.33. The company had a trading volume of 660,549 shares. The company’s market capitalization is $1.84 billion. The stock has a 50-day moving average of $12.26 and a 200 day moving average of $10.79. Coeur Mining has a 12-month low of $1.62 and a 12-month high of $16.41.
Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm earned $182 million during 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%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) earnings per share. On average, analysts expect that Coeur Mining will post $0.35 EPS for the current year.
In other Coeur Mining news, CFO Peter C. Mitchell sold 16,157 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $15.88, for a total transaction of $256,573.16. Following the completion of the transaction, the chief financial officer now directly owns 270,260 shares of the company’s stock, valued at $4,291,728.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Kenneth Thompson sold 7,500 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $15.52, for a total value of $116,400.00. Following the transaction, the director now directly owns 85,788 shares of the company’s stock, valued at $1,331,429.76. The disclosure for this sale can be found here. Company insiders own 1.53% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CDE. Van ECK Associates Corp raised its position in shares of 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 during the period. Bogle Investment Management L P DE purchased a new position in shares of Coeur Mining during the first quarter valued at $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 valued at $19,397,000 after buying an additional 1,513,900 shares during the period. 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 valued at $8,875,000 after buying an additional 1,350,035 shares during the period. 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 valued at $69,679,000 after buying an additional 1,258,405 shares during the period. 69.43% of the stock is 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.
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