Coeur Mining (NYSE:CDE) Shares Up 8.7% - A Buying Opportunity?

Coeur Mining, Inc. (NYSE:CDE) experienced a significant rise of 8.7% in its stock value on Thursday. The shares hit a peak price of $6.23 before ultimately closing at $6.22. A total of 6,799,536 shares changed hands during the trading session, which is 16% lower than the average volume of 8,065,218 shares traded daily. Prior to this surge, the stock had closed at $5.72.

Recent Analyst Upgrades and Price Predictions

Several research analysts have recently issued updated reports on Coeur Mining (CDE). On November 7th, Cantor Fitzgerald upgraded the rating from a "hold" to a "strong buy". Following suit, StockNews.com adjusted its rating from "sell" to "hold" on November 8th. Raymond James raised its price target from $6.25 to $7.00, assigning a "market perform" rating on September 20th. BMO Capital Markets increased its target from $7.50 to $8.00, categorizing it as "outperform" on September 23rd. Additionally, Canaccord Genuity Group lifted its price objective from $7.00 to $7.75, rating the stock as a "buy" on October 8th.

Consensus Ratings and Investor Outlook

According to MarketBeat.com, two investment analysts classify the stock as a hold, four as buy, and one as a strong buy. The consensus rating stands at "Moderate Buy" with an average price target of $7.81.

Stock Performance Overview

Coeur Mining has a market capitalization of $2.45 billion, a price-to-earnings ratio of -204.27, and a beta of 1.60. The company's debt-to-equity ratio is at 0.53 with a current ratio of 1.09 and quick ratio of 0.39. The 50-day moving average for the stock is $6.38, while the 200-day moving average sits at $6.29.

Most recently, Coeur Mining reported its quarterly earnings on November 6th, which showed earnings of $0.12 per share, surpassing expectations of $0.07 by $0.05. Despite a negative net margin of 0.44%, the company did achieve a positive return on equity of 1.78%. Revenue reached $313.50 million in the quarter, exceeding forecasts of $289.19 million and reflecting a year-over-year revenue increase of 61.1%. Analysts on average expect Coeur Mining to report an earnings per share (EPS) of $0.15 for the current year.

Institutional Investment Changes

Recent adjustments by large investors have influenced shares of Coeur Mining. In the third quarter, Jennison Associates LLC entered a new position valued at approximately $579,000. XTX Topco Ltd also acquired shares totaling about $1,311,000. Van ECK Associates Corp increased its stake by 1.1%, now holding 34,469,783 shares valued at $251,629,000 following the addition of 365,115 shares. U S Global Investors Inc. raised its holdings by 160.4%, now owning 586,000 shares worth $4,032,000, having purchased an extra 361,000 shares recently. Furthermore, AQR Capital Management LLC expanded its holdings by 84.6%, now possessing 487,609 shares valued at approximately $2,740,000. Institutional investors and hedge funds own about 63.01% of Coeur Mining’s stock.

Company Overview

Coeur Mining, Inc. is involved in exploring for precious metals in regions including the United States, Canada, and Mexico. The primary focus includes seeking gold, silver, zinc, and lead deposits, with sales made through smelters and off-take agreements. The company was previously known as Coeur d'Alene Mines Corporation, with a name change to Coeur Mining, Inc. occurring in May 2013.

Conclusion

The recent uptick in Coeur Mining's stock price along with favorable analyst ratings suggests a potential buying opportunity for investors. While top analysts have identified other stocks as better buys, the overall outlook for Coeur Mining remains optimistic based on their recent financial performance.

Coeur, Mining, Investment