Coeur Mining (NYSE:CDE) Price Target Raised to $8.50

Coeur Mining (NYSE:CDE) had its price objective upped by Roth Mkm from $8.00 to $8.50 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

CDE has been the topic of a number of other research reports. Cantor Fitzgerald cut Coeur Mining from an overweight rating to a neutral rating in a research report on Thursday, August 8th. Raymond James raised their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the company a market perform rating in a report on Friday, September 20th. Finally, 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 report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $7.83.

Coeur Mining Stock Down 5.1 %

CDE opened at $7.13 on Wednesday. The stock has a fifty day moving average of $6.20 and a 200-day moving average of $5.47. The company has a market capitalization of $2.85 billion, a P/E ratio of -23.00 and a beta of 1.64. Coeur Mining has a fifty-two week low of $2.00 and a fifty-two week high of $7.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The firm had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue was up 25.3% compared to the same quarter last year. On average, equities analysts expect that Coeur Mining will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds have recently modified their holdings of the business. CWM LLC grew its position in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after buying an additional 4,490 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Coeur Mining in the second quarter valued at approximately $49,000. Hohimer Wealth Management LLC acquired a new stake in Coeur Mining during the 2nd quarter valued at approximately $57,000. WINTON GROUP Ltd bought a new position in Coeur Mining during the 2nd quarter worth approximately $57,000. Finally, CIBC Asset Management Inc bought a new position in Coeur Mining during the 2nd quarter worth approximately $59,000. 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.