Coeur Mining Inc. (CDE) Upgraded to “Buy” by 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 brokerage presently has a $12.00 target price on the stock. Zacks Investment Research’s target price suggests 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 have also recently issued reports on the company. Royal Bank Of Canada raised Coeur Mining from a “sector perform” rating to an “outperform” rating in a report on Thursday, July 14th. Deutsche Bank AG reaffirmed a “sell” rating on shares of Coeur Mining in a report on Thursday, July 7th. Raymond James Financial Inc. raised Coeur Mining from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. CIBC raised Coeur Mining from a “sector underperform” rating to a “sector perform” rating in a report on Tuesday, August 30th. Finally, Vetr cut Coeur Mining from a “strong-buy” rating to a “hold” rating and set a $11.10 price objective on the stock. in a report on Thursday, October 6th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. 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, reaching $11.24. The company had a trading volume of 4,851,679 shares. Coeur Mining has a 1-year low of $1.62 and a 1-year high of $16.41. The firm has a 50-day moving average price of $12.29 and a 200-day moving average price of $10.78. The stock’s market capitalization is $1.82 billion.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The company had revenue of $182 million for the quarter, compared to analysts’ expectations of $173.92 million. During the same period in the previous year, the firm earned ($0.11) EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that Coeur Mining will post $0.35 earnings per share for the current year.
In other Coeur Mining news, CFO Peter C. Mitchell sold 16,157 shares of the company’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 owns 270,260 shares of the company’s stock, valued at approximately $4,291,728.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hans John Rasmussen sold 3,477 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $15.00, for a total value of $52,155.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in CDE. Van ECK Associates Corp increased its position in shares of Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares during the period. Bogle Investment Management L P DE acquired a new position in shares of Coeur Mining during the first quarter valued at approximately $13,022,000. Sprott Inc. increased its position in shares of Coeur Mining by 495.2% in the second quarter. Sprott Inc. now owns 1,819,600 shares of the company’s stock valued at $19,397,000 after buying an additional 1,513,900 shares during the period. Teachers Advisors Inc. increased its position in shares of Coeur Mining by 589.1% in the first quarter. Teachers Advisors Inc. now owns 1,579,196 shares of the company’s stock valued at $8,875,000 after buying an additional 1,350,035 shares during the period. Finally, GMT Capital Corp increased its position in shares of Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock valued at $69,679,000 after buying an additional 1,258,405 shares during the period. 69.43% of the stock is currently owned by institutional investors.
About Coeur Mining
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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