Coeur Mining (NYSE:CDE) Shares Gap Up to $2.29

Coeur Mining, Inc. (NYSE:CDE) shares gapped up prior to trading on Friday . The stock had previously closed at $2.29, but opened at $2.35. Coeur Mining shares last traded at $2.40, with a volume of 1,099,923 shares.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 58.com reaffirmed an “initiates” rating on shares of Coeur Mining in a report on Wednesday, June 28th. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Monday, July 24th. StockNews.com started coverage on Coeur Mining in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Monday, July 24th. Finally, National Bankshares set a $4.25 target price on Coeur Mining and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.79.

Coeur Mining Price Performance

The company has a current ratio of 1.03, a quick ratio of 0.41 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $836.99 million, a P/E ratio of -10.39 and a beta of 1.61. The business’s fifty day moving average price is $2.67 and its 200-day moving average price is $3.10.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, August 9th. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $177.20 million during the quarter, compared to the consensus estimate of $220.04 million. Coeur Mining had a negative return on equity of 12.66% and a negative net margin of 8.64%. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts predict that Coeur Mining, Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Coeur Mining

Hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its position in Coeur Mining by 99,607.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,843,155 shares of the basic materials company’s stock valued at $574,033,000 after purchasing an additional 170,671,810 shares during the last quarter. BlackRock Inc. lifted its position in Coeur Mining by 21.6% in the second quarter. BlackRock Inc. now owns 32,638,874 shares of the basic materials company’s stock valued at $92,694,000 after purchasing an additional 5,798,848 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Coeur Mining by 4.2% during the second quarter. Van ECK Associates Corp now owns 31,040,391 shares of the basic materials company’s stock valued at $88,155,000 after acquiring an additional 1,252,234 shares during the last quarter. State Street Corp raised its stake in shares of Coeur Mining by 56.5% during the first quarter. State Street Corp now owns 27,794,163 shares of the basic materials company’s stock valued at $123,684,000 after acquiring an additional 10,035,506 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Coeur Mining by 3.8% during the third quarter. Vanguard Group Inc. now owns 25,870,084 shares of the basic materials company’s stock valued at $88,476,000 after acquiring an additional 958,963 shares during the last quarter. 61.55% of the stock is owned by institutional investors.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. It primarily explores for gold, silver, zinc, and lead properties. The company holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,279 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.