BMO Capital Markets Initiates Coverage on Coeur Mining (NYSE:CDE)

Analysts at BMO Capital Markets assumed coverage on shares of Coeur Mining (NYSE:CDE) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating and a $27.00 price target on the basic materials company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 50.38% from the company’s current price.

Several other research firms also recently weighed in on CDE. ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Weiss Ratings upgraded shares of Coeur Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 13th. Canadian Imperial Bank of Commerce began coverage on shares of Coeur Mining in a research note on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Coeur Mining Stock Performance

Shares of CDE stock traded down $0.36 during trading hours on Wednesday, hitting $17.96. 7,409,391 shares of the company were exchanged, compared to its average volume of 28,173,098. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 20.92 and a beta of 1.16. The firm has a fifty day simple moving average of $22.58 and a 200 day simple moving average of $19.27. Coeur Mining has a 52-week low of $4.58 and a 52-week high of $27.77.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The firm had revenue of $674.85 million during the quarter, compared to analysts’ expectations of $668.70 million. During the same quarter in the previous year, the company posted $0.11 EPS. Coeur Mining’s revenue for the quarter was up 120.9% on a year-over-year basis. Research analysts predict that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in Coeur Mining by 55.8% in 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 purchasing an additional 23,646,265 shares in the last quarter. State Street Corp increased its holdings in shares of Coeur Mining by 6.7% in the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after purchasing an additional 1,529,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Coeur Mining by 36.3% in 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 buying an additional 6,352,828 shares in the last quarter. Tidal Investments LLC boosted its stake in Coeur Mining by 55.3% during 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 buying an additional 7,382,955 shares during the period. Finally, Geode Capital Management LLC grew its position in Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after buying an additional 524,646 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.