Coeur Mining (NYSE:CDE) Shares Up 8.7% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) shot up 8.7% on Thursday . The stock traded as high as $6.23 and last traded at $6.22. 6,799,536 shares traded hands during trading, a decline of 16% from the average session volume of 8,065,218 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CDE shares. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Raymond James raised their target price on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. BMO Capital Markets upped their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Canaccord Genuity Group increased their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Performance

The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -204.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39. The stock has a 50-day moving average of $6.38 and a 200 day moving average of $6.29.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The company had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. During the same quarter in the previous year, the company earned ($0.05) EPS. Coeur Mining’s revenue was up 61.1% on a year-over-year basis. On average, analysts expect that Coeur Mining, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC acquired a new position in Coeur Mining in the third quarter valued at about $579,000. XTX Topco Ltd acquired a new stake in shares of Coeur Mining in the 3rd quarter valued at approximately $1,311,000. Van ECK Associates Corp boosted its stake in Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after acquiring an additional 365,115 shares during the last quarter. U S Global Investors Inc. grew its holdings in Coeur Mining by 160.4% during the third quarter. U S Global Investors Inc. now owns 586,000 shares of the basic materials company’s stock valued at $4,032,000 after purchasing an additional 361,000 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Coeur Mining by 84.6% in the second quarter. AQR Capital Management LLC now owns 487,609 shares of the basic materials company’s stock worth $2,740,000 after purchasing an additional 223,529 shares during the period. 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.