Coeur Mining, Inc. (NYSE:CDE) Given Average Recommendation of “Moderate Buy” by Analysts

Coeur Mining, Inc. (NYSE:CDE) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $6.44.

Several analysts have issued reports on CDE shares. BMO Capital Markets boosted their price target on Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a report on Friday, July 12th. Raymond James increased their target price on shares of Coeur Mining from $5.75 to $6.25 and gave the stock a “market perform” rating in a report on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and set a $8.00 price target (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. Finally, Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds have recently modified their holdings of the stock. SPC Financial Inc. purchased a new position in Coeur Mining during the second quarter valued at $65,000. The Manufacturers Life Insurance Company grew its position in shares of Coeur Mining by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 226,406 shares of the basic materials company’s stock valued at $1,272,000 after purchasing an additional 51,474 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after purchasing an additional 72,423 shares during the last quarter. Dark Forest Capital Management LP lifted its position in shares of Coeur Mining by 31.1% in the second quarter. Dark Forest Capital Management LP now owns 49,091 shares of the basic materials company’s stock worth $276,000 after buying an additional 11,651 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Coeur Mining by 84.6% in the second quarter. AQR Capital Management LLC now owns 487,609 shares of the basic materials company’s stock worth $2,740,000 after buying an additional 223,529 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

CDE opened at $5.28 on Friday. The company’s 50 day moving average is $6.05 and its 200 day moving average is $5.07. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -17.03 and a beta of 1.64. Coeur Mining has a 12-month low of $2.00 and a 12-month high of $6.82.

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

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.