Coeur Mining (NYSE:CDE) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Coeur Mining (NYSE:CDE) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Roth Capital upped their price target on Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, December 15th. Raymond James Financial set a $21.00 target price on Coeur Mining in a research report on Thursday, October 30th. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Coeur Mining in a research note on Monday. Finally, TD Securities lifted their price target on Coeur Mining from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coeur Mining has an average rating of “Buy” and a consensus price target of $16.75.

Coeur Mining Price Performance

Shares of CDE opened at $18.08 on Monday. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 27.40 and a beta of 1.33. The firm’s fifty day simple moving average is $16.50 and its 200-day simple moving average is $14.33. Coeur Mining has a twelve month low of $4.58 and a twelve month high of $23.61. The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $554.57 million during 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 15.52%. The business’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. Equities analysts forecast that Coeur Mining will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Coeur Mining by 55.8% during the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after buying an additional 23,646,265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock worth $447,567,000 after purchasing an additional 6,352,828 shares in the last quarter. Tidal Investments LLC lifted its position in Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after purchasing an additional 7,382,955 shares during the period. Geode Capital Management LLC lifted its position in Coeur Mining by 2.0% in the second quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock valued at $132,732,000 after purchasing an additional 288,626 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Coeur Mining by 38.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock valued at $268,329,000 after purchasing an additional 3,982,085 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.