Coeur Mining (NYSE:CDE) Shares Gap Up – What’s Next?

Coeur Mining, Inc. (NYSE:CDE) gapped up before the market opened on Tuesday . The stock had previously closed at $20.32, but opened at $21.99. Coeur Mining shares last traded at $21.2790, with a volume of 3,822,104 shares.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of analyst reports. Raymond James Financial set a $21.00 price objective on shares of Coeur Mining in a research report on Thursday, October 30th. Zacks Research upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Thursday, October 30th. TD Cowen raised Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings lowered Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.17.

Coeur Mining Stock Up 3.1%

The business has a 50-day simple moving average of $19.31 and a two-hundred day simple moving average of $16.45. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 31.80 and a beta of 1.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.10 and a current ratio of 2.00.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after acquiring an additional 23,646,265 shares during the period. Tidal Investments LLC increased its stake in shares of Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after acquiring an additional 7,382,955 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Coeur Mining by 212.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock worth $91,446,000 after purchasing an additional 7,013,222 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Coeur Mining by 36.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after purchasing an additional 6,352,828 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Coeur Mining by 136.1% in the 2nd quarter. American Century Companies Inc. now owns 2,759,607 shares of the basic materials company’s stock valued at $24,450,000 after purchasing an additional 1,591,008 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

About Coeur Mining

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.