Investors Buy Large Volume of Coeur Mining Call Options (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) saw unusually large options trading activity on Tuesday. Stock investors acquired 52,921 call options on the company. This is an increase of 125% compared to the average volume of 23,556 call options.

Coeur Mining Stock Performance

NYSE CDE opened at $25.66 on Thursday. The firm has a market cap of $16.48 billion, a P/E ratio of 38.88 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 2.00 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $18.86 and its 200-day moving average is $16.14. Coeur Mining has a 12-month low of $4.58 and a 12-month high of $27.77.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The business had revenue of $554.57 million during the quarter, compared to analysts’ expectations of $511.20 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 76.9% on a year-over-year basis. Sell-side analysts predict that Coeur Mining will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

CDE has been the topic of several research reports. Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Raymond James Financial set a $21.00 price objective on Coeur Mining in a report on Thursday, October 30th. Finally, Cormark lowered Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.17.

Institutional Trading of Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings in Coeur Mining by 55.8% during the 3rd 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 buying an additional 23,646,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $447,567,000 after acquiring an additional 6,352,828 shares during the period. Tidal Investments LLC grew 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 acquiring an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC increased its holdings in Coeur Mining by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock worth $132,732,000 after acquiring an additional 288,626 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Coeur Mining by 38.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock worth $268,329,000 after purchasing an additional 3,982,085 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.