Coeur Mining Inc (CDE) Given “Buy” Rating at Royal Bank of Canada
Coeur Mining Inc (NYSE:CDE)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Wednesday. They currently have a $14.00 target price on the basic materials company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 45.38% from the stock’s current price.
A number of other brokerages have also recently issued reports on CDE. Zacks Investment Research raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $11.75 price objective on shares of Coeur Mining in a report on Thursday, February 9th. TheStreet raised Coeur Mining from a “d” rating to a “c” rating in a report on Thursday, February 9th. Finally, Deutsche Bank AG cut their price objective on Coeur Mining from $10.50 to $9.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.62.
Coeur Mining (NYSE:CDE) traded up 3.22% during mid-day trading on Wednesday, reaching $9.63. 3,395,779 shares of the company traded hands. The stock has a 50 day moving average price of $9.12 and a 200-day moving average price of $9.48. The company has a market capitalization of $1.75 billion, a P/E ratio of 17.41 and a beta of 0.93. Coeur Mining has a 52-week low of $6.98 and a 52-week high of $16.41.
Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $206.10 million during the quarter, compared to analysts’ expectations of $208.95 million. Coeur Mining had a return on equity of 8.59% and a net margin of 8.31%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. Analysts expect that Coeur Mining will post $0.21 EPS for the current fiscal year.
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In other news, CFO Peter C. Mitchell sold 10,000 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $8.72, for a total value of $87,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.53% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC raised its stake in shares of Coeur Mining by 2.3% in the first quarter. Profund Advisors LLC now owns 36,986 shares of the basic materials company’s stock worth $299,000 after buying an additional 817 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Coeur Mining by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 97,299 shares of the basic materials company’s stock worth $547,000 after buying an additional 966 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Coeur Mining by 8.5% in the first quarter. Teacher Retirement System of Texas now owns 14,405 shares of the basic materials company’s stock worth $116,000 after buying an additional 1,133 shares during the period. Bank of Montreal Can raised its stake in shares of Coeur Mining by 1.1% in the third quarter. Bank of Montreal Can now owns 110,718 shares of the basic materials company’s stock worth $1,310,000 after buying an additional 1,175 shares during the period. Finally, UBS Group AG raised its stake in shares of Coeur Mining by 9.8% in the first quarter. UBS Group AG now owns 14,178 shares of the basic materials company’s stock worth $115,000 after buying an additional 1,267 shares during the period. Institutional investors own 61.10% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.
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