Coeur Mining (NYSE:CDE) Shares Up 8.7% - Still a Buy?

Coeur Mining, Inc. (NYSE:CDE) experienced a significant increase in its stock price, rising by 8.7% on Thursday. The shares peaked at $6.23 before closing at $6.22. The trading volume was 6,799,536 shares, which is a decrease of 16% from the average daily volume of 8,065,218 shares. The previous day’s close was at $5.72.

Recent Ratings and Price Target Changes

Several research analysts have recently re-evaluated their opinions on Coeur Mining shares. Cantor Fitzgerald has upgraded the stock from a "hold" rating to a "strong buy" rating as of November 7th. StockNews.com also revised their rating, moving from a "sell" to a "hold" on November 8th. Raymond James increased their price target for Coeur Mining from $6.25 to $7.00, maintaining a "market perform" rating, while BMO Capital Markets raised their target from $7.50 to $8.00, rating it as "outperform". Additionally, Canaccord Genuity Group adjusted their price target to $7.75 and gave a "buy" rating on October 8th. Currently, two analysts rate the stock as a hold, four as buy, and one as a strong buy, leading to a consensus rating classified as "Moderate Buy" with a target price of $7.81 according to MarketBeat.com.

Stock Performance Overview

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

On November 6th, Coeur Mining reported its quarterly earnings, posting an earnings per share (EPS) of $0.12, exceeding the expected $0.07 by $0.05. The company experienced a negative net margin of 0.44% but reported a positive return on equity of 1.78%. Revenue for the quarter reached $313.50 million, surpassing the expected $289.19 million. This revenue marks a significant year-over-year increase of 61.1% compared to the same quarter last year. Analysts predict Coeur Mining will report an EPS of 0.15 for the current fiscal year.

Institutional Activity Update

Recent changes in institutional holdings have caught attention. Jennison Associates LLC took a new position in Coeur Mining valued at about $579,000 in the third quarter. Similarly, XTX Topco Ltd acquired approximately $1.31 million worth of shares in the same period. Van ECK Associates Corp increased its stake by 1.1%, now holding 34,469,783 shares worth $251,629,000 after acquiring an additional 365,115 shares. U S Global Investors Inc. expanded their holdings by 160.4%, attaining 586,000 shares valued at $4,032,000 after an added 361,000 shares. AQR Capital Management LLC also raised its stake by 84.6%, now owning 487,609 shares valued at $2,740,000. Overall, institutional investors and hedge funds collectively own 63.01% of Coeur Mining’s stock.

About Coeur Mining

Coeur Mining, Inc. is involved in the exploration of precious metals across the United States, Canada, and Mexico, focusing on properties that yield gold, silver, zinc, and lead. The company markets and sells its concentrates to third-party customers and smelters under off-take agreements. Established under the name Coeur d'Alene Mines Corporation, it officially changed its name to Coeur Mining, Inc. in May 2013.

Coeur, Mining, Investment