Investors Buy Large Volume of Call Options on Coeur Mining (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) saw some unusual options trading on Tuesday. Traders acquired 25,690 call options on the stock. This is an increase of approximately 79% compared to the average volume of 14,339 call options.

Coeur Mining Stock Performance

Shares of NYSE CDE opened at $16.99 on Tuesday. The company has a 50-day simple moving average of $17.51 and a 200-day simple moving average of $13.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The company has a market cap of $10.91 billion, a PE ratio of 25.74 and a beta of 1.21. Coeur Mining has a 12 month low of $4.58 and a 12 month high of $23.61.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The business’s quarterly revenue was up 76.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. On average, equities analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. TD Securities raised their target price on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coeur Mining in a research report on Tuesday, November 25th. Wall Street Zen downgraded Coeur Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Thursday, October 30th. Finally, Zacks Research cut Coeur Mining from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.32.

Insider Buying and Selling at Coeur Mining

In other news, CEO Mitchell J. Krebs sold 125,000 shares of Coeur Mining stock in a transaction on Monday, September 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the completion of the transaction, the chief executive officer owned 2,197,309 shares of the company’s stock, valued at $32,190,576.85. The trade was a 5.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds have recently made changes to their positions in CDE. JPL Wealth Management LLC purchased a new position in shares of Coeur Mining in the 3rd quarter worth about $35,000. Covestor Ltd increased its position in Coeur Mining by 7,011.5% during the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,823 shares in the last quarter. Bogart Wealth LLC purchased a new position in Coeur Mining in the third quarter valued at approximately $62,000. EverSource Wealth Advisors LLC lifted its position in Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after buying an additional 1,435 shares in the last quarter. Finally, MAI Capital Management acquired a new position in Coeur Mining during the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.