Coeur Mining (NYSE:CDE) PT Raised to $8.00 at BMO Capital Markets

Coeur Mining (NYSE:CDE) had its target price boosted by equities researchers at BMO Capital Markets from $7.50 to $8.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 7.02% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Raymond James lifted their price objective on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $8.00 price objective (up from $7.25) on shares of Coeur Mining in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.67.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $7.48 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The business has a 50-day moving average of $6.14 and a two-hundred day moving average of $5.41. The stock has a market capitalization of $2.98 billion, a P/E ratio of -24.11 and a beta of 1.64. Coeur Mining has a fifty-two week low of $2.00 and a fifty-two week high of $7.63.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. Coeur Mining’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. On average, equities research analysts predict that Coeur Mining will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several large investors have recently added to or reduced their stakes in CDE. Van ECK Associates Corp lifted its holdings in shares of Coeur Mining by 6.5% in the first quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock valued at $145,616,000 after purchasing an additional 2,345,791 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Coeur Mining by 12.5% in 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Coeur Mining by 0.5% in the fourth 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 in the last quarter. Tidal Investments LLC purchased a new position in shares of Coeur Mining in the first quarter valued at $41,587,000. Finally, American Century Companies Inc. grew its position in Coeur Mining by 248.1% during the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after buying an additional 4,606,711 shares in the last quarter. Institutional investors and hedge funds 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.