Coeur Mining (NYSE:CDE) Shares Gap Up – Should You Buy?

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped up before the market opened on Friday . The stock had previously closed at $6.26, but opened at $6.47. Coeur Mining shares last traded at $6.42, with a volume of 1,067,856 shares traded.

Wall Street Analysts Forecast Growth

CDE has been the subject of a number of research reports. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Canaccord Genuity Group raised their target price on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm restated a “buy” rating and issued a $8.50 price objective (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coeur Mining has an average rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Stock Performance

The stock’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.35. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.55 billion, a PE ratio of -212.43 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The business had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 61.1% on a year-over-year basis. On average, research analysts predict that Coeur Mining, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Coeur Mining during the second quarter worth $4,822,000. JPMorgan Chase & Co. grew its stake in Coeur Mining by 88.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock valued at $9,761,000 after purchasing an additional 665,452 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Coeur Mining during the second quarter worth about $2,382,000. Van ECK Associates Corp increased its stake in Coeur Mining by 1.1% during the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after purchasing an additional 365,115 shares during the last quarter. Finally, U S Global Investors Inc. boosted its position in Coeur Mining by 160.4% during the 3rd 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. 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.