Coeur Mining (NYSE:CDE) Price Target Raised to $28.50

Coeur Mining (NYSE:CDE) had its price objective upped by Scotiabank from $27.50 to $28.50 in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have a sector outperform rating on the basic materials company’s stock.

Several other equities analysts have also weighed in on the stock. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. BMO Capital Markets initiated coverage on Coeur Mining in a research note on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Cantor Fitzgerald lowered shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.39.

Coeur Mining Stock Down 7.0%

CDE opened at $14.79 on Tuesday. Coeur Mining has a 1 year low of $8.56 and a 1 year high of $27.77. The firm has a 50 day moving average price of $17.31 and a 200 day moving average price of $19.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The company has a market cap of $15.31 billion, a PE ratio of 12.75 and a beta of 1.29.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The business had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 137.8% on a year-over-year basis. Sell-side analysts expect that Coeur Mining will post 1.39 earnings per share for the current year.

Coeur Mining Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a $0.02 dividend. This represents a yield of 23.0%. The ex-dividend date was Friday, May 22nd. Coeur Mining’s payout ratio is presently 3.45%.

Insider Buying and Selling

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer owned 77,204 shares of the company’s stock, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its position in shares of Coeur Mining by 92.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after purchasing an additional 13,418,041 shares during the period. State Street Corp boosted its holdings in Coeur Mining by 6.7% during the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after buying an additional 1,529,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Coeur Mining by 36.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after acquiring an additional 6,352,828 shares during the last quarter. Tidal Investments LLC raised its position in shares of Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after purchasing an additional 7,382,955 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock valued at $277,953,000 after purchasing an additional 524,646 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.