Coeur Mining (NYSE:CDE) Sees Strong Trading Volume

Coeur Mining, Inc. (NYSE:CDE) shares saw unusually-strong trading volume on Monday . Approximately 7,001,197 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 7,335,774 shares.The stock last traded at $7.01 and had previously closed at $7.28.

Wall Street Analyst Weigh In

CDE has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. BMO Capital Markets increased their target price on shares of Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a report on Friday, July 12th. Finally, Raymond James boosted their price target on shares of Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.44.

Coeur Mining Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The company’s 50-day moving average price is $6.08 and its 200-day moving average price is $5.21. The company has a market cap of $2.80 billion, a P/E ratio of -23.48 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Coeur Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in Coeur Mining by 831.5% in the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 4,490 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Coeur Mining in the first quarter valued at about $46,000. StoneX Group Inc. bought a new stake in Coeur Mining during the first quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Coeur Mining during the second quarter valued at approximately $49,000. Finally, &PARTNERS bought a new position in Coeur Mining in the first quarter valued at approximately $54,000. 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.