Coeur Mining (NYSE:CDE) Shares Gap Up – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $6.43, but opened at $6.81. Coeur Mining shares last traded at $6.70, with a volume of 3,029,066 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Securities started coverage on Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective for the company. Roth Mkm decreased their price target on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research note on Friday, February 21st. Raymond James upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $8.75 to $8.25 in a report on Friday, February 21st. Cormark upgraded shares of Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets initiated coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining 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 company has a market cap of $4.19 billion, a PE ratio of 54.63 and a beta of 1.51. The company’s 50 day moving average price is $6.18 and its 200-day moving average price is $6.35.

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

Insider Transactions at Coeur Mining

In other Coeur Mining news, CFO Thomas S. Whelan acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. This represents a 1.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP lifted its position in Coeur Mining by 404.6% during the fourth quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after purchasing an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Coeur Mining during the 4th quarter valued at $21,224,000. Vanguard Group Inc. lifted its holdings in shares of Coeur Mining by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after acquiring an additional 3,178,785 shares during the last quarter. Marshall Wace LLP grew its position in Coeur Mining by 12,934.3% in the fourth quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock worth $16,998,000 after acquiring an additional 2,948,880 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Coeur Mining by 57.8% in the fourth quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock worth $41,245,000 after acquiring an additional 2,641,310 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.