Coeur Mining (NYSE:CDE) Shares Gap Up – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $20.32, but opened at $21.99. Coeur Mining shares last traded at $21.2790, with a volume of 3,822,104 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDE. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Thursday, October 30th. Raymond James Financial set a $21.00 price target on shares of Coeur Mining in a research report on Thursday, October 30th. Weiss Ratings downgraded shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 29th. Finally, Roth Mkm upped their target price on shares of Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and a consensus target price of $18.17.

Coeur Mining Stock Performance

The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.27 billion, a PE ratio of 28.95 and a beta of 1.21. The firm’s 50-day simple moving average is $19.53 and its 200-day simple moving average is $16.57.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in CDE. EverSource Wealth Advisors LLC lifted its stake in Coeur Mining by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 1,435 shares during the period. Covestor Ltd lifted its position in shares of Coeur Mining by 7,011.5% in the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,823 shares during the period. JPL Wealth Management LLC bought a new position in shares of Coeur Mining during the third quarter valued at approximately $35,000. Lodestone Wealth Management LLC purchased a new position in Coeur Mining during the fourth quarter valued at approximately $36,000. Finally, Sound Income Strategies LLC raised its stake in Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 996 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

About Coeur Mining

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.