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

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.92, but opened at $7.24. Coeur Mining shares last traded at $7.15, with a volume of 1,824,676 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CDE shares. Roth Mkm reaffirmed a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Price Performance

The company has a fifty day simple moving average of $6.36 and a 200-day simple moving average of $6.37. The company has a market cap of $2.79 billion, a P/E ratio of -232.76 and a beta of 1.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Coeur Mining by 32.7% in the 3rd quarter. SG Americas Securities LLC now owns 63,454 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 15,621 shares in the last quarter. CWM LLC boosted its stake in shares of Coeur Mining by 93.2% during the 3rd quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock valued at $67,000 after buying an additional 4,686 shares during the period. Creative Planning grew its holdings in shares of Coeur Mining by 27.7% during the 3rd quarter. Creative Planning now owns 41,046 shares of the basic materials company’s stock valued at $282,000 after acquiring an additional 8,914 shares in the last quarter. SPC Financial Inc. increased its stake in shares of Coeur Mining by 78.3% in the third quarter. SPC Financial Inc. now owns 20,500 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 9,000 shares during the last quarter. Finally, U S Global Investors Inc. raised its holdings in shares of 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 worth $4,032,000 after acquiring an additional 361,000 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.