Canaccord Genuity reiterated their buy rating on shares of Coeur Mining, Inc. (NYSE:CDE) in a research report sent to investors on Thursday. Canaccord Genuity currently has a $11.75 price objective on the basic materials company’s stock.
Several other brokerages have also issued reports on CDE. BidaskClub upgraded Coeur Mining from a hold rating to a buy rating in a report on Saturday, June 10th. Royal Bank Of Canada reiterated a buy rating and issued a $14.00 price target on shares of Coeur Mining in a report on Wednesday, May 24th. Zacks Investment Research upgraded Coeur Mining from a sell rating to a hold rating in a report on Thursday, May 11th. ValuEngine lowered Coeur Mining from a hold rating to a sell rating in a report on Friday, September 1st. Finally, Roth Capital set a $13.00 price target on Coeur Mining and gave the stock a buy rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $10.86.
Shares of Coeur Mining (NYSE CDE) opened at 9.26 on Thursday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 24.05 and a beta of 0.47. The company has a 50-day moving average price of $8.29 and a 200-day moving average price of $8.60. Coeur Mining has a 12 month low of $7.30 and a 12 month high of $13.65.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $173.40 million for the quarter, compared to analyst estimates of $174.70 million. Coeur Mining had a return on equity of 10.44% and a net margin of 9.65%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. Analysts forecast that Coeur Mining will post $0.12 earnings per share for the current fiscal year.
In other news, COO Frank L. Jr. Hanagarne sold 28,800 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $8.50, for a total value of $244,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Peter C. Mitchell sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.19, for a total value of $81,900.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Coeur Mining by 9.8% in the first quarter. UBS Group AG now owns 14,178 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 1,267 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Coeur Mining during the second quarter valued at approximately $123,000. Teacher Retirement System of Texas increased its position in shares of Coeur Mining by 8.5% during the first quarter. Teacher Retirement System of Texas now owns 14,405 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 1,133 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Coeur Mining during the second quarter valued at approximately $141,000. Finally, Sigma Planning Corp purchased a new stake in shares of Coeur Mining during the second quarter valued at approximately $143,000. Institutional investors own 68.90% of the company’s stock.
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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