Coeur Mining (NYSE:CDE) Stock Rating Upgraded by BMO Capital Markets

Coeur Mining (NYSE:CDE) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a $5.50 price objective on the basic materials company’s stock, up from their prior price objective of $4.25. BMO Capital Markets’ target price would suggest a potential upside of 12.70% from the company’s current price.

CDE has been the topic of a number of other reports. Roth Capital restated a “buy” rating on shares of Coeur Mining in a research report on Tuesday, April 9th. National Bank Financial reaffirmed an “outperform spec market weight” rating on shares of Coeur Mining in a report on Monday, April 8th. Raymond James raised their price target on Coeur Mining from $3.75 to $4.00 and gave the stock a “market perform” rating in a report on Monday, April 8th. Finally, Roth Mkm initiated coverage on Coeur Mining in a research note on Tuesday, April 9th. They set a “buy” rating and a $5.40 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $4.36.

Coeur Mining Stock Performance

Shares of Coeur Mining stock opened at $4.88 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.38 and a current ratio of 0.92. Coeur Mining has a 1 year low of $2.00 and a 1 year high of $5.47. The firm’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $3.17. The firm has a market cap of $1.95 billion, a PE ratio of -15.74 and a beta of 1.77.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Coeur Mining had a negative return on equity of 6.27% and a negative net margin of 12.77%. The company had revenue of $213.10 million for the quarter, compared to the consensus estimate of $203.43 million. During the same quarter last year, the business posted ($0.11) EPS. Coeur Mining’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts forecast that Coeur Mining will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Hedge funds have recently modified their holdings of the company. Atria Wealth Solutions Inc. bought a new position in Coeur Mining during the fourth quarter valued at about $33,000. Rathbones Group PLC bought a new position in shares of Coeur Mining during the 3rd quarter valued at about $35,000. Forum Financial Management LP acquired a new position in shares of Coeur Mining in the 4th quarter worth approximately $40,000. Ballentine Partners LLC bought a new stake in shares of Coeur Mining in the 1st quarter worth approximately $46,000. Finally, StoneX Group Inc. acquired a new stake in Coeur Mining during the first quarter valued at approximately $49,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.