Coeur Mining (NYSE:CDE) Reaches New 12-Month High – What’s Next?

Shares of Coeur Mining, Inc. (NYSE:CDE) reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.18 and last traded at $8.00, with a volume of 2253278 shares trading hands. The stock had previously closed at $7.81.

Analysts Set New Price Targets

CDE has been the subject of several recent research reports. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. TD Cowen raised Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. Raymond James reissued an “outperform” rating and issued a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. BMO Capital Markets began coverage on Coeur Mining in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, TD Securities began coverage on Coeur Mining in a research report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price target for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.10.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. The firm has a market capitalization of $5.26 billion, a PE ratio of 68.16 and a beta of 1.24. The firm’s 50 day moving average price is $6.22 and its 200-day moving average price is $6.23.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The firm’s revenue was up 69.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, research analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Transactions at Coeur Mining

In related news, CFO Thomas S. Whelan purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $5.25 per share, with a total value of $52,500.00. Following the purchase, the chief financial officer now owns 668,450 shares of the company’s stock, valued at $3,509,362.50. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the transaction, the chief accounting officer now owns 122,104 shares of the company’s stock, valued at $903,569.60. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,061 shares of company stock valued at $667,775 in the last three months. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in Coeur Mining by 595.5% in the 4th quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock worth $503,000 after buying an additional 75,314 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Coeur Mining by 2,203.1% in the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company’s stock valued at $1,332,000 after acquiring an additional 222,803 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Coeur Mining by 253.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company’s stock worth $8,419,000 after acquiring an additional 1,055,084 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Coeur Mining during the fourth quarter worth approximately $183,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Coeur Mining during the fourth quarter worth approximately $432,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.