Coeur Mining (NYSE:CDE) Stock Price Up 13.7% – Here’s What Happened

Shares of Coeur Mining, Inc. (NYSE:CDE) shot up 13.7% during mid-day trading on Tuesday . The stock traded as high as $18.80 and last traded at $18.7580. 40,493,069 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 29,529,219 shares. The stock had previously closed at $16.50.

Analysts Set New Price Targets

A number of equities analysts recently commented on CDE shares. Canadian Imperial Bank of Commerce started coverage on Coeur Mining in a research note on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price target for the company. Roth Mkm reaffirmed a “buy” rating and set a $29.00 price objective on shares of Coeur Mining in a report on Thursday, February 19th. Canaccord Genuity Group downgraded Coeur Mining from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, BMO Capital Markets began coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Coeur Mining Trading Down 0.3%

The company has a 50-day moving average of $22.03 and a 200 day moving average of $19.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66. The company has a market cap of $12.23 billion, a PE ratio of 21.90 and a beta of 1.33.

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

Institutional Trading of Coeur Mining

A number of institutional investors have recently bought and sold shares of CDE. Van ECK Associates Corp increased its position in Coeur Mining by 55.8% during the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock valued at $1,238,201,000 after acquiring an additional 23,646,265 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Coeur Mining by 55.3% during the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after purchasing an additional 7,382,955 shares during the period. Norges Bank purchased a new position in shares of Coeur Mining during the 4th quarter worth about $128,389,000. Arrowstreet Capital Limited Partnership grew its holdings in Coeur Mining by 212.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock valued at $91,446,000 after purchasing an additional 7,013,222 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Coeur Mining by 36.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after purchasing an additional 6,352,828 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.