Coeur Mining, Inc. (NYSE:CDE – Get Rating) – Investment analysts at Cormark lifted their Q1 2023 earnings per share (EPS) estimates for shares of Coeur Mining in a report released on Wednesday, March 1st. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of ($0.03) for the quarter, up from their previous estimate of ($0.06). The consensus estimate for Coeur Mining’s current full-year earnings is ($0.16) per share. Cormark also issued estimates for Coeur Mining’s Q2 2023 earnings at ($0.04) EPS, Q3 2023 earnings at ($0.03) EPS, Q4 2023 earnings at ($0.03) EPS, FY2023 earnings at ($0.14) EPS and FY2024 earnings at ($0.11) EPS.
A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group upgraded Coeur Mining from a “sell” rating to a “hold” rating and raised their target price for the company from $3.00 to $4.00 in a research report on Thursday, January 19th. Raymond James raised their target price on Coeur Mining from $4.00 to $4.25 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. Finally, BMO Capital Markets dropped their target price on Coeur Mining from $3.75 to $3.50 and set a “market perform” rating on the stock in a research report on Friday, December 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Coeur Mining currently has an average rating of “Hold” and an average target price of $3.65.
Coeur Mining Price Performance
Coeur Mining (NYSE:CDE – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The basic materials company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Coeur Mining had a negative return on equity of 10.28% and a negative net margin of 9.95%. The company had revenue of $210.12 million for the quarter, compared to the consensus estimate of $204.82 million. During the same period last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year.
Insider Activity at Coeur Mining
In other Coeur Mining news, Director Randy Gress bought 20,000 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were acquired at an average cost of $2.93 per share, with a total value of $58,600.00. Following the purchase, the director now directly owns 205,213 shares of the company’s stock, valued at approximately $601,274.09. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.61% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CDE. CWM LLC raised its position in shares of Coeur Mining by 17.8% during the 3rd quarter. CWM LLC now owns 17,089 shares of the basic materials company’s stock valued at $58,000 after buying an additional 2,577 shares during the period. Arizona State Retirement System raised its position in shares of Coeur Mining by 3.9% during the 4th quarter. Arizona State Retirement System now owns 79,254 shares of the basic materials company’s stock valued at $266,000 after buying an additional 2,945 shares during the period. Profund Advisors LLC raised its position in shares of Coeur Mining by 12.3% during the 3rd quarter. Profund Advisors LLC now owns 27,217 shares of the basic materials company’s stock valued at $93,000 after buying an additional 2,978 shares during the period. Raymond James & Associates raised its position in shares of Coeur Mining by 6.4% during the 1st quarter. Raymond James & Associates now owns 50,555 shares of the basic materials company’s stock valued at $225,000 after buying an additional 3,050 shares during the period. Finally, American International Group Inc. raised its position in shares of Coeur Mining by 2.6% during the 2nd quarter. American International Group Inc. now owns 130,408 shares of the basic materials company’s stock valued at $396,000 after buying an additional 3,343 shares during the period. 64.76% of the stock is owned by hedge funds and other institutional investors.
Coeur Mining Company Profile
Coeur Mining, Inc engages in the exploration and development of silver and gold mining properties and mines located in United States, Canada and Mexico. The company operates through the following segments: Palmarejo, Rochester, Kensington, Wharf, and Silvertip. Coeur Mining was founded in 1928 and is headquartered in Chicago, IL.
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