Raymond James Raises Coeur Mining (NYSE:CDE) Price Target to $7.00

Coeur Mining (NYSE:CDE) had its target price upped by Raymond James from $6.25 to $7.00 in a research note released on Friday, Benzinga reports. Raymond James currently has a market perform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets raised their price target on Coeur Mining from $6.75 to $7.50 and gave the stock an outperform rating in a report on Friday, July 12th. Cantor Fitzgerald cut Coeur Mining from an overweight rating to a neutral rating in a research report on Thursday, August 8th. Finally, Roth Mkm reissued a buy rating and issued a $8.00 target price (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $6.63.

Coeur Mining Price Performance

CDE stock opened at $6.96 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.78 billion, a P/E ratio of -22.45 and a beta of 1.64. The business has a 50 day simple moving average of $6.12 and a 200-day simple moving average of $5.32. Coeur Mining has a twelve month low of $2.00 and a twelve month high of $7.39.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $222.03 million during 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%. Coeur Mining’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, equities analysts anticipate that Coeur Mining will post 0.08 EPS for the current year.

Institutional Trading of Coeur Mining

A number of institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in Coeur Mining by 831.5% in the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 4,490 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Coeur Mining in the 2nd quarter valued at about $49,000. Hohimer Wealth Management LLC acquired a new stake in shares of Coeur Mining in the second quarter valued at about $57,000. WINTON GROUP Ltd acquired a new stake in shares of Coeur Mining in the second quarter valued at about $57,000. Finally, CIBC Asset Management Inc purchased a new stake in Coeur Mining during the second quarter worth about $59,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.