Coeur Mining (NYSE:CDE) Trading Up 9.8% – What’s Next?

Coeur Mining, Inc. (NYSE:CDE)’s share price traded up 9.8% during mid-day trading on Wednesday . The company traded as high as $20.33 and last traded at $20.3170. Approximately 6,317,940 shares were traded during trading, a decline of 79% from the average daily volume of 29,751,520 shares. The stock had previously closed at $18.51.

Trending Headlines about Coeur Mining

Here are the key news stories impacting Coeur Mining this week:

• Positive Sentiment: Coeur Mining shares participated in a sharp precious-metals mining rally after reports that a potential U.S. Treasury buyback plan was boosting demand for gold and silver-related assets. The move reflects favorable macroeconomic sentiment toward precious-metals producers rather than a company-specific operating announcement. Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
• Positive Sentiment: Zacks Research upgraded CDE from “strong sell” to “hold.” Although this is not a bullish rating, the change removes an aggressively negative recommendation and may modestly improve sentiment. Zacks Research
• Neutral Sentiment: A market update highlighted Coeur Mining as being in focus, likely reflecting the company’s exposure to the strengthening gold and silver markets and its recent share-price momentum. Why Is Coeur Mining in Focus Today?
• Negative Sentiment: Three insiders reported selling a combined 41,000 shares on August 19: CFO Thomas S. Whelan sold 6,000 shares, EVP Casey M. Nault sold 10,000, and Director J. Kenneth Thompson sold 25,000. The transactions totaled approximately $844,000 and could weigh on sentiment, though Nault’s sale was made under a pre-arranged Rule 10b5-1 plan and all three executives retained substantial holdings.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CDE shares. Wall Street Zen downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Scotiabank dropped their price target on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Roth Capital set a $19.00 price objective on Coeur Mining in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Coeur Mining Price Performance

The firm has a 50-day simple moving average of $16.71 and a two-hundred day simple moving average of $18.81. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 18.08 and a beta of 1.32. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business’s quarterly revenue was up 125.8% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. As a group, analysts predict that Coeur Mining, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Thomas S. Whelan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth J. Watkinson sold 39,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer owned 77,204 shares of the company’s stock, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 80,000 shares of company stock valued at $1,569,870. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Coeur Mining by 60.2% during the 1st quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock worth $4,434,000 after acquiring an additional 281,489 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock worth $49,449,000 after purchasing an additional 1,278,110 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Coeur Mining by 122.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock worth $14,393,000 after purchasing an additional 1,339,138 shares in the last quarter. Focus Partners Wealth acquired a new stake in Coeur Mining in the first quarter valued at approximately $60,000. Finally, Intech Investment Management LLC increased its stake in Coeur Mining by 58.4% during the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after buying an additional 99,256 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.