Wall Street brokerages forecast that Coeur Mining Inc (NYSE:CDE) will announce $210.32 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Coeur Mining’s earnings, with estimates ranging from $204.40 million to $216.24 million. Coeur Mining posted sales of $199.47 million in the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 2nd.
On average, analysts expect that Coeur Mining will report full year sales of $750.63 million for the current financial year, with estimates ranging from $734.00 million to $765.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $838.89 million, with estimates ranging from $790.00 million to $887.78 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Coeur Mining.
Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.05. The business had revenue of $154.20 million for the quarter, compared to analysts’ expectations of $151.99 million. Coeur Mining had a negative net margin of 41.33% and a negative return on equity of 0.94%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share.
Several equities research analysts have weighed in on the stock. Noble Financial upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Monday. TheStreet upgraded shares of Coeur Mining from a “d” rating to a “c-” rating in a report on Wednesday, July 29th. Zacks Investment Research downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, July 21st. Finally, Raymond James raised their target price on shares of Coeur Mining from $6.75 to $7.75 and gave the company a “market perform” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $7.64.
Shares of CDE stock opened at $7.94 on Thursday. Coeur Mining has a 1 year low of $1.98 and a 1 year high of $9.25. The firm’s 50 day moving average is $8.17 and its 200-day moving average is $5.51. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -6.35 and a beta of 1.97. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49.
In other Coeur Mining news, SVP Casey M. Nault sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $8.01, for a total value of $240,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CDE. PNC Financial Services Group Inc. grew its holdings in shares of Coeur Mining by 37.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,914 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 3,000 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Coeur Mining by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 362,880 shares of the basic materials company’s stock valued at $1,843,000 after purchasing an additional 3,063 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Coeur Mining by 14.1% during the 2nd quarter. Profund Advisors LLC now owns 31,236 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 3,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Coeur Mining by 32.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,062 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 5,595 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Coeur Mining by 47.5% during the 1st quarter. Principal Financial Group Inc. now owns 19,170 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 6,170 shares during the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.
About Coeur Mining
Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.
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