Coeur Mining (NYSE:CDE) Shares Gap Up to $5.96

Coeur Mining, Inc. (NYSE:CDE) gapped up before the market opened on Friday . The stock had previously closed at $5.96, but opened at $6.14. Coeur Mining shares last traded at $6.19, with a volume of 975,848 shares.

Wall Street Analyst Weigh In

CDE has been the subject of a number of recent research reports. Roth Mkm began coverage on Coeur Mining in a report on Tuesday, April 9th. They issued a “buy” rating and a $5.40 target price for the company. Roth Capital restated a “buy” rating on shares of Coeur Mining in a research report on Tuesday, April 9th. Raymond James increased their target price on shares of Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a research report on Monday, April 8th. BMO Capital Markets raised shares of Coeur Mining from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $4.25 to $5.50 in a research note on Friday, May 3rd. Finally, National Bank Financial reissued an “outperform spec market weight” rating on shares of Coeur Mining in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining has an average rating of “Moderate Buy” and a consensus price target of $4.40.

Coeur Mining Stock Up 3.7 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99. The stock’s 50 day simple moving average is $5.45 and its 200 day simple moving average is $4.04. The firm has a market cap of $2.47 billion, a P/E ratio of -19.58 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $213.10 million during the quarter, compared to the consensus estimate of $203.43 million. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. Coeur Mining’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Research analysts anticipate that Coeur Mining, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 44,000 shares of Coeur Mining stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $4.86, for a total transaction of $213,840.00. Following the sale, the chief accounting officer now directly owns 140,719 shares in the company, valued at $683,894.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coeur Mining news, Director Sebastian Edwards sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $5.08, for a total transaction of $101,600.00. Following the sale, the director now directly owns 103,100 shares of the company’s stock, valued at $523,748. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Kenneth J. Watkinson sold 44,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $4.86, for a total transaction of $213,840.00. Following the completion of the sale, the chief accounting officer now directly owns 140,719 shares in the company, valued at approximately $683,894.34. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Atria Wealth Solutions Inc. purchased a new position in shares of Coeur Mining in the fourth quarter valued at $33,000. Ballentine Partners LLC purchased a new position in Coeur Mining during the first quarter valued at approximately $46,000. Forum Financial Management LP bought a new stake in Coeur Mining during the 4th quarter worth approximately $40,000. StoneX Group Inc. purchased a new stake in Coeur Mining in the 1st quarter worth approximately $49,000. Finally, &PARTNERS bought a new position in Coeur Mining in the 1st quarter valued at $54,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.