Coeur Mining (NYSE:CDE) Shares Up 3.5% – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE) shares shot up 3.5% during trading on Wednesday . The company traded as high as $8.39 and last traded at $8.37. 1,893,042 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 12,369,271 shares. The stock had previously closed at $8.08.

Analyst Ratings Changes

A number of brokerages have commented on CDE. Raymond James reiterated an “outperform” rating and issued a $8.50 price objective on shares of Coeur Mining in a research report on Wednesday, April 2nd. Roth Mkm decreased their price objective on Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research report on Friday, February 21st. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. Cormark upgraded Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets began coverage on Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining currently has a consensus rating of “Buy” and a consensus price target of $8.10.

Coeur Mining Stock Performance

The stock has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $6.27. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 67.88 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 69.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. Analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Activity

In related news, Director Pierre Beaudoin sold 60,551 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the sale, the director now owns 188,362 shares of the company’s stock, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eduardo Luna sold 17,160 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total value of $134,362.80. Following the transaction, the director now owns 101,841 shares of the company’s stock, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock valued at $667,775 in the last 90 days. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coeur Mining

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in Coeur Mining by 44.7% during the 1st quarter. Rhumbline Advisers now owns 904,652 shares of the basic materials company’s stock worth $5,356,000 after purchasing an additional 279,626 shares in the last quarter. Strs Ohio bought a new position in Coeur Mining during the 1st quarter worth about $699,000. GK Wealth Management LLC bought a new position in shares of Coeur Mining in the 1st quarter valued at about $113,000. Intech Investment Management LLC grew its holdings in shares of Coeur Mining by 58.4% in the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock valued at $1,594,000 after acquiring an additional 99,256 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Coeur Mining in the 1st quarter valued at about $60,000. Institutional investors own 63.01% of the company’s stock.

About Coeur Mining

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.