TD Securities Forecasts Strong Price Appreciation for Coeur Mining (NYSE:CDE) Stock

Coeur Mining (NYSE:CDE) had its target price boosted by TD Securities from $23.00 to $25.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the basic materials company’s stock. TD Securities’ price target suggests a potential upside of 59.92% from the stock’s current price.

CDE has been the subject of several other research reports. Cormark cut shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Roth Capital set a $20.00 price target on Coeur Mining and gave the company a “buy” rating in a report on Friday, October 3rd. Wall Street Zen lowered Coeur Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, BMO Capital Markets raised their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $16.32.

Coeur Mining Price Performance

CDE opened at $15.63 on Tuesday. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 23.69 and a beta of 1.21. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. Coeur Mining has a 12-month low of $4.58 and a 12-month high of $23.61. The business’s fifty day simple moving average is $17.64 and its 200-day simple moving average is $12.17.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The firm had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 76.9% compared to the same quarter last year. On average, equities research analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mitchell J. Krebs sold 125,000 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the sale, the chief executive officer owned 2,197,309 shares in the company, valued at approximately $32,190,576.85. The trade was a 5.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Casey M. Nault sold 102,257 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the transaction, the senior vice president owned 568,623 shares in the company, valued at approximately $6,823,476. This trade represents a 15.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 352,257 shares of company stock valued at $4,878,334 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional Trading of Coeur Mining

Several large investors have recently bought and sold shares of CDE. Piper Sandler & CO. acquired a new position in Coeur Mining during the 3rd quarter valued at approximately $439,000. Systematic Alpha Investments LLC purchased a new stake in shares of Coeur Mining during the third quarter valued at $418,000. Orion Porfolio Solutions LLC acquired a new position in shares of Coeur Mining in the 3rd quarter valued at $237,000. Picton Mahoney Asset Management raised its stake in Coeur Mining by 22.1% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,413,982 shares of the basic materials company’s stock worth $26,526,000 after acquiring an additional 255,787 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Coeur Mining by 498.8% during the 3rd quarter. Victory Capital Management Inc. now owns 664,840 shares of the basic materials company’s stock worth $12,472,000 after acquiring an additional 553,814 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.