Coeur Mining (NYSE:CDE) Now Covered by Canadian Imperial Bank of Commerce

Research analysts at Canadian Imperial Bank of Commerce began coverage on shares of Coeur Mining (NYSE:CDE) in a research note issued on Tuesday,Benzinga reports. The brokerage set an “outperformer” rating and a $40.00 price target on the basic materials company’s stock. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 69.53% from the stock’s current price.

A number of other research firms have also recently weighed in on CDE. Weiss Ratings cut Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a report on Monday, December 1st. Roth Mkm reissued a “buy” rating and issued a $29.00 price target on shares of Coeur Mining in a report on Thursday, February 19th. Finally, Canaccord Genuity Group lowered shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Coeur Mining has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Coeur Mining Price Performance

CDE stock opened at $23.59 on Tuesday. The business has a 50 day moving average price of $22.39 and a 200 day moving average price of $18.74. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.10. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 26.97 and a beta of 1.16. Coeur Mining has a fifty-two week low of $4.58 and a fifty-two week high of $27.77.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The company had revenue of $674.85 million for the quarter, compared to analyst estimates of $668.70 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue for the quarter was up 120.9% compared to the same quarter last year. Equities research analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in 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 valued at $1,238,201,000 after purchasing an additional 23,646,265 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after buying an additional 7,382,955 shares during the period. Norges Bank acquired a new stake in shares of Coeur Mining in the fourth quarter valued at about $128,389,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Coeur Mining by 212.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock valued at $91,446,000 after buying an additional 7,013,222 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Coeur Mining by 36.3% during the 3rd 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 buying an additional 6,352,828 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Company Profile

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.