Raymond James Financial, Inc. Increases Coeur Mining, Inc. (CDE) Price Target to $12.50
Coeur Mining, Inc. (NYSE:CDE) had its target price increased by Raymond James Financial, Inc. from $9.50 to $12.50 in a research note issued to investors on Friday. The firm presently has a “market perform” rating on the basic materials company’s stock. Raymond James Financial, Inc.’s target price would indicate a potential upside of 34.70% from the stock’s previous close.
CDE has been the topic of a number of other reports. Royal Bank Of Canada reissued a “buy” rating and set a $13.00 target price on shares of Coeur Mining in a research report on Thursday, August 24th. Zacks Investment Research cut shares of Coeur Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine cut shares of Coeur Mining from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised shares of Coeur Mining from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Noble Financial reissued a “hold” rating on shares of Coeur Mining in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $10.95.
Shares of Coeur Mining (NYSE:CDE) traded up 0.98% during midday trading on Friday, hitting $9.28. 3,512,057 shares of the company’s stock were exchanged. The stock has a market cap of $1.68 billion, a PE ratio of 24.10 and a beta of 0.47. The stock’s 50 day moving average is $8.35 and its 200-day moving average is $8.61. Coeur Mining has a 1-year low of $7.30 and a 1-year high of $14.47.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Coeur Mining had a net margin of 9.65% and a return on equity of 10.44%. The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $174.70 million. During the same period in the previous year, the company posted $0.09 earnings per share. Coeur Mining’s revenue was down 4.7% compared to the same quarter last year. Analysts predict that Coeur Mining will post $0.12 earnings per share for the current fiscal year.
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In related news, COO Frank L. Jr. Hanagarne sold 28,800 shares of Coeur Mining stock in a transaction on Monday, August 28th. The shares were sold at an average price of $8.50, for a total value of $244,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter C. Mitchell sold 10,000 shares of Coeur Mining stock in a transaction on Monday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $81,900.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. UBS Group AG increased 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 last quarter. Stevens Capital Management LP bought a new stake in shares of Coeur Mining in the second quarter worth $123,000. Teacher Retirement System of Texas increased 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 last quarter. Russell Investments Group Ltd. bought a new stake in shares of Coeur Mining in the second quarter worth $141,000. Finally, Sigma Planning Corp bought a new stake in shares of Coeur Mining in the second quarter worth $143,000. Institutional investors and hedge funds own 68.90% of the company’s stock.
About Coeur Mining
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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