Coeur Mining (NYSE:CDE) Reaches New 52-Week High at $6.11

Coeur Mining, Inc. (NYSE:CDE) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.11 and last traded at $5.99, with a volume of 2162113 shares trading hands. The stock had previously closed at $5.63.

Analysts Set New Price Targets

CDE has been the subject of several research reports. Roth Mkm assumed coverage on Coeur Mining in a research report on Tuesday, April 9th. They issued a “buy” rating and a $5.40 target price for the company. National Bank Financial reiterated an “outperform spec market weight” rating on shares of Coeur Mining in a research note on Monday, April 8th. BMO Capital Markets upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $4.25 to $5.50 in a research report on Friday, May 3rd. Raymond James boosted their price objective on shares of Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a research report on Monday, April 8th. Finally, Roth Capital reissued a “buy” rating on shares of Coeur Mining in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.40.

Coeur Mining Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99. The firm has a market capitalization of $2.38 billion, a P/E ratio of -19.23 and a beta of 1.61. The business has a fifty day moving average of $5.40 and a 200-day moving average of $4.01.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. The company had revenue of $213.10 million during the quarter, compared to analysts’ expectations of $203.43 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coeur Mining news, Director Sebastian Edwards sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total value of $101,600.00. Following the completion of the sale, the director now directly owns 103,100 shares in the company, valued at $523,748. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sebastian Edwards sold 20,000 shares of Coeur Mining stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total transaction of $101,600.00. Following the transaction, the director now directly owns 103,100 shares of the company’s stock, valued at $523,748. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $4.86, for a total transaction of $213,840.00. Following the completion of the sale, the chief accounting officer now directly owns 140,719 shares of the company’s stock, valued at $683,894.34. The disclosure for this sale can be found here. 1.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CDE. Van ECK Associates Corp boosted its stake in shares of Coeur Mining by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after acquiring an additional 2,345,791 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Coeur Mining by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock valued at $116,885,000 after purchasing an additional 3,989,352 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Coeur Mining by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock valued at $52,445,000 after purchasing an additional 84,920 shares during the period. Tidal Investments LLC purchased a new position in Coeur Mining in the 1st quarter worth about $41,587,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Coeur Mining by 22.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,457,720 shares of the basic materials company’s stock worth $30,832,000 after purchasing an additional 1,702,840 shares in the last quarter. 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.