Coeur Mining Inc. (CDE) Rating Increased to Buy at Zacks Investment Research
Coeur Mining Inc. (NYSE:CDE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $12.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 6.76% from the stock’s previous close.
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
Other equities research analysts have also recently issued research reports about the company. Vetr cut Coeur Mining from a “strong-buy” rating to a “buy” rating and set a $11.10 price objective for the company. in a research note on Monday. Roth Capital reissued a “buy” rating on shares of Coeur Mining in a research note on Monday, June 27th. Deutsche Bank AG raised Coeur Mining from a “sell” rating to a “hold” rating and raised their price objective for the company from $7.50 to $11.00 in a research note on Monday, October 3rd. Barclays PLC raised their price objective on Coeur Mining and gave the company an “outperform” rating in a research note on Monday, June 27th. Finally, Royal Bank Of Canada raised Coeur Mining from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.11.
Shares of Coeur Mining (NYSE:CDE) traded up 3.69% during mid-day trading on Tuesday, reaching $11.24. The company had a trading volume of 4,851,679 shares. The firm’s 50-day moving average price is $12.29 and its 200 day moving average price is $10.78. Coeur Mining has a 52-week low of $1.62 and a 52-week high of $16.41. The company’s market cap is $1.82 billion.
Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The business earned $182 million during the quarter, compared to analysts’ expectations of $173.92 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Equities analysts expect that Coeur Mining will post $0.35 EPS for the current year.
In other Coeur Mining news, SVP Hans John Rasmussen sold 3,477 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $15.00, for a total value of $52,155.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter C. Mitchell sold 16,157 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $15.88, for a total value of $256,573.16. Following the completion of the sale, the chief financial officer now owns 270,260 shares in the company, valued at $4,291,728.80. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Coeur Mining by 2.8% in the second quarter. Vanguard Group Inc. now owns 10,965,958 shares of the company’s stock valued at $116,897,000 after buying an additional 293,836 shares during the last quarter. GMT Capital Corp raised its stake in shares of Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock valued at $69,679,000 after buying an additional 1,258,405 shares during the last quarter. State Street Corp raised its stake in shares of Coeur Mining by 10.3% in the first quarter. State Street Corp now owns 6,231,980 shares of the company’s stock valued at $35,027,000 after buying an additional 582,163 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Coeur Mining by 16.5% in the second quarter. BlackRock Fund Advisors now owns 3,875,730 shares of the company’s stock valued at $41,315,000 after buying an additional 549,240 shares during the last quarter. Hedge funds and other institutional investors own 69.43% of the company’s stock.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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