Coeur Mining (NYSE:CDE) Shares Gap Up to $6.88

Coeur Mining, Inc. (NYSE:CDE) gapped up prior to trading on Tuesday . The stock had previously closed at $6.88, but opened at $7.07. Coeur Mining shares last traded at $7.13, with a volume of 1,208,044 shares traded.

Analysts Set New Price Targets

Several brokerages have commented on CDE. Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. BMO Capital Markets increased their price objective on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Roth Mkm raised their price target on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Raymond James raised their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Coeur Mining has an average rating of “Hold” and an average price target of $7.83.

Coeur Mining Stock Performance

The company has a market cap of $2.81 billion, a P/E ratio of -22.69 and a beta of 1.64. The business’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $5.56. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $222.03 million for the quarter, compared to analysts’ expectations of $242.18 million. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. Sell-side analysts predict that Coeur Mining, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Coeur Mining during the second quarter valued at approximately $49,000. SPC Financial Inc. purchased a new position in shares of Coeur Mining in the second quarter valued at $65,000. The Manufacturers Life Insurance Company grew its holdings in shares of Coeur Mining by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 226,406 shares of the basic materials company’s stock valued at $1,272,000 after purchasing an additional 51,474 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after purchasing an additional 72,423 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its holdings in shares of Coeur Mining by 31.1% in the second quarter. Dark Forest Capital Management LP now owns 49,091 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 11,651 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.