Zacks Investment Research upgraded shares of Coeur Mining (NYSE:CDE – Get Rating) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. The firm currently has $4.25 target price on the basic materials company’s stock.
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
A number of other equities analysts have also issued reports on the company. Raymond James reduced their target price on Coeur Mining from $8.00 to $5.75 and set a market perform rating for the company in a research note on Friday, February 18th. StockNews.com initiated coverage on Coeur Mining in a research note on Thursday, March 31st. They set a sell rating for the company. Noble Financial upgraded Coeur Mining from a market perform rating to an outperform rating and set a $5.25 price objective for the company in a research note on Monday, January 31st. Canaccord Genuity Group lowered Coeur Mining from a buy rating to a hold rating and set a $4.75 price objective for the company. in a research note on Thursday, February 17th. Finally, Canaccord Genuity Group lowered Coeur Mining from a buy rating to a hold rating and set a $4.75 price objective for the company. in a research note on Thursday, February 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $5.79.
Coeur Mining (NYSE:CDE – Get Rating) last issued its earnings results on Wednesday, May 4th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $193.63 million. Coeur Mining had a negative return on equity of 0.14% and a negative net margin of 3.75%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Coeur Mining will post -0.01 EPS for the current year.
In other news, COO Michael Routledge acquired 11,760 shares of the stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average cost of $4.26 per share, for a total transaction of $50,097.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas S. Whelan bought 10,000 shares of the stock in a transaction dated Friday, February 25th. The shares were bought at an average price of $4.25 per share, for a total transaction of $42,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 27,760 shares of company stock worth $119,108 over the last 90 days. Insiders own 1.61% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Coeur Mining by 2.3% in the third quarter. BlackRock Inc. now owns 21,875,699 shares of the basic materials company’s stock valued at $134,972,000 after purchasing an additional 496,379 shares during the period. State Street Corp grew its stake in shares of Coeur Mining by 6.6% in the fourth quarter. State Street Corp now owns 17,758,657 shares of the basic materials company’s stock worth $89,504,000 after acquiring an additional 1,094,285 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Coeur Mining by 10.1% in the third quarter. Dimensional Fund Advisors LP now owns 8,563,183 shares of the basic materials company’s stock worth $52,834,000 after acquiring an additional 783,187 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Coeur Mining by 25.1% in the third quarter. Jupiter Asset Management Ltd. now owns 6,408,325 shares of the basic materials company’s stock worth $39,539,000 after acquiring an additional 1,284,590 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Coeur Mining by 8.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,224,414 shares of the basic materials company’s stock worth $26,331,000 after acquiring an additional 419,114 shares in the last quarter. 58.12% of the stock is currently owned by hedge funds and other institutional investors.
About Coeur Mining (Get Rating)
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 holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.
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