Coeur Mining (NYSE:CDE) Shares Gap Up on Better-Than-Expected Earnings

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.73, but opened at $6.28. Coeur Mining shares last traded at $6.79, with a volume of 8,395,279 shares traded.

The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. Coeur Mining’s revenue for the quarter was up 69.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share.

Wall Street Analysts Forecast Growth

CDE has been the topic of several research reports. Raymond James reaffirmed an “outperform” rating and set a $8.50 price target on shares of Coeur Mining in a report on Wednesday, April 2nd. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. Roth Mkm cut their price objective on Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a report on Friday, February 21st. TD Cowen raised Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.10.

Insider Activity at Coeur Mining

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $5.25 per share, with a total value of $52,500.00. Following the acquisition, the chief financial officer now owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. This trade represents a 1.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors have recently bought and sold shares of CDE. GAMMA Investing LLC grew its stake in shares of Coeur Mining by 139.8% in the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 3,359 shares in the last quarter. City State Bank grew its position in Coeur Mining by 56.9% in the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 2,274 shares in the last quarter. Quarry LP increased its stake in Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after buying an additional 5,968 shares during the last quarter. Optiver Holding B.V. lifted its position in shares of Coeur Mining by 150.5% during the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after buying an additional 4,903 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Coeur Mining in the 1st quarter worth approximately $53,000. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Trading Up 12.6 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39. The company has a market capitalization of $5.02 billion, a P/E ratio of 65.42 and a beta of 1.24. The firm has a fifty day moving average price of $5.84 and a 200-day moving average price of $6.16.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.