Coeur Mining Inc. (CDE) Rating Increased to Buy at Zacks Investment Research
Coeur Mining Inc. (NYSE:CDE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $12.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 6.76% from the stock’s current price.
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
Several other analysts also recently weighed in on CDE. Vetr downgraded Coeur Mining from a “strong-buy” rating to a “buy” rating and set a $11.10 price target on the stock. in a research note on Monday. Roth Capital restated a “buy” rating on shares of Coeur Mining in a research note on Monday, June 27th. Deutsche Bank AG upgraded Coeur Mining from a “sell” rating to a “hold” rating and upped their price target for the stock from $7.50 to $11.00 in a research note on Monday, October 3rd. Barclays PLC upped their price target on Coeur Mining and gave the stock an “outperform” rating in a research note on Monday, June 27th. Finally, Royal Bank Of Canada assumed coverage on Coeur Mining in a research note on Tuesday, June 21st. They issued a “sector perform” rating and a $9.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Coeur Mining currently has an average rating of “Buy” and an average price target of $9.11.
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Shares of Coeur Mining (NYSE:CDE) traded up 3.69% during mid-day trading on Tuesday, hitting $11.24. The company’s stock had a trading volume of 4,851,679 shares. The stock’s 50 day moving average price is $12.29 and its 200 day moving average price is $10.78. The company’s market cap is $1.82 billion. Coeur Mining has a 52-week low of $1.62 and a 52-week high of $16.41.
Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm earned $182 million during the quarter, compared to analyst estimates of $173.92 million. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. Equities analysts forecast that Coeur Mining will post $0.35 EPS for the current year.
In other news, CFO Peter C. Mitchell sold 16,157 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $15.88, for a total value of $256,573.16. Following the transaction, the chief financial officer now directly owns 270,260 shares in the company, valued at approximately $4,291,728.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Peter C. Mitchell sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $12.55, for a total value of $125,500.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CDE. Societe Generale purchased a new position in Coeur Mining during the second quarter worth about $106,000. SG Americas Securities LLC bought a new position in shares of Coeur Mining during the second quarter worth approximately $106,000. Nuveen Asset Management LLC bought a new position in shares of Coeur Mining during the second quarter worth approximately $108,000. Fox Run Management L.L.C. bought a new position in shares of Coeur Mining during the third quarter worth approximately $135,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Coeur Mining by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 11,907 shares of the company’s stock worth $127,000 after buying an additional 1,415 shares in the last quarter. Hedge funds and other institutional investors own 69.43% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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