Coeur Mining (NYSE:CDE) Trading Up 6.7% – Time to Buy?

Coeur Mining, Inc. (NYSE:CDE) rose 6.7% on Monday . The stock traded as high as $6.42 and last traded at $6.44. Approximately 6,270,642 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 10,259,549 shares. The stock had previously closed at $6.03.

Analyst Ratings Changes

CDE has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target for the company. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $8.75 to $8.25 in a research report on Friday, February 21st. Roth Mkm reduced their price target on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research report on Friday, February 21st. Cormark upgraded Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. Finally, TD Securities started coverage on Coeur Mining in a research report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.05.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. The business has a 50 day moving average price of $6.16 and a two-hundred day moving average price of $6.35. The company has a market cap of $4.11 billion, a P/E ratio of 53.71 and a beta of 1.51.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In other news, CFO Thomas S. Whelan bought 10,000 shares of Coeur Mining stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the acquisition, the chief financial officer now owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Coeur Mining by 139.8% in the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after buying an additional 3,359 shares during the last quarter. Quarry LP grew its stake in shares of Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock worth $38,000 after buying an additional 5,968 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Coeur Mining by 150.5% in the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after buying an additional 4,903 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Coeur Mining in the 4th quarter worth approximately $57,000. Finally, DRW Securities LLC purchased a new stake in shares of Coeur Mining in the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors 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.