Coeur Mining, Inc. (CDE) Receives Buy Rating from Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Coeur Mining, Inc. (NYSE:CDE) in a report released on Thursday morning. Canaccord Genuity currently has a $11.75 price objective on the basic materials company’s stock.
CDE has been the topic of a number of other reports. Royal Bank Of Canada reiterated a buy rating and set a $14.00 price objective on shares of Coeur Mining in a research note on Wednesday, May 24th. Zacks Investment Research upgraded shares of Coeur Mining from a sell rating to a hold rating in a research note on Thursday, May 11th. BMO Capital Markets reiterated a buy rating and set a $11.00 price objective on shares of Coeur Mining in a research note on Friday, June 30th. BidaskClub downgraded shares of Coeur Mining from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Finally, ValuEngine downgraded shares of Coeur Mining from a hold rating to a sell rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Coeur Mining has a consensus rating of Hold and an average target price of $10.86.
Shares of Coeur Mining (NYSE CDE) traded down 1.82% during midday trading on Thursday, reaching $9.19. 1,344,847 shares of the company traded hands. The company has a 50 day moving average of $8.28 and a 200 day moving average of $8.59. Coeur Mining has a 12 month low of $7.30 and a 12 month high of $14.47. The firm has a market capitalization of $1.67 billion, a P/E ratio of 23.87 and a beta of 0.47.
Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $173.40 million during the quarter, compared to the consensus estimate of $174.70 million. Coeur Mining had a net margin of 9.65% and a return on equity of 10.44%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities research analysts predict that Coeur Mining will post $0.13 earnings per share for the current fiscal year.
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In other Coeur Mining news, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $8.19, for a total transaction of $81,900.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Frank L. Jr. Hanagarne sold 28,800 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $8.50, for a total transaction of $244,800.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CDE. BlackRock Inc. increased its holdings in shares of Coeur Mining by 56,698.4% in the 1st quarter. BlackRock Inc. now owns 11,538,591 shares of the basic materials company’s stock worth $93,231,000 after acquiring an additional 11,518,276 shares during the period. Van ECK Associates Corp increased its holdings in shares of Coeur Mining by 46.8% in the 2nd quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock worth $159,688,000 after acquiring an additional 5,933,383 shares during the period. GMT Capital Corp increased its holdings in shares of Coeur Mining by 47.7% in the 1st quarter. GMT Capital Corp now owns 11,747,789 shares of the basic materials company’s stock worth $94,922,000 after acquiring an additional 3,792,700 shares during the period. Investec Asset Management LTD acquired a new stake in shares of Coeur Mining in the 2nd quarter worth about $28,801,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Coeur Mining by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock worth $39,939,000 after acquiring an additional 1,840,601 shares during the period. 68.90% of the stock is currently owned by institutional investors and hedge funds.
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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