Coeur Mining (NYSE:CDE) Upgraded by Zacks Investment Research to Buy

Coeur Mining (NYSE:CDE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $7.25 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.02% from the company’s previous close.

According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “

A number of other research analysts also recently weighed in on CDE. Noble Financial reissued a “buy” rating and issued a $7.50 target price on shares of Coeur Mining in a report on Sunday, December 15th. Raymond James set a $6.25 target price on Coeur Mining and gave the company a “market perform” rating in a report on Wednesday, November 6th. Roth Capital downgraded Coeur Mining from a “neutral” rating to a “sell” rating and set a $5.25 target price on the stock. in a report on Monday, January 6th. B. Riley restated a “neutral” rating and issued a $6.30 price target (down previously from $7.10) on shares of Coeur Mining in a research report on Monday, January 6th. Finally, ValuEngine upgraded Coeur Mining from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Coeur Mining has an average rating of “Hold” and an average target price of $6.15.

CDE stock traded up $0.16 during trading on Tuesday, reaching $6.59. The stock had a trading volume of 4,903,711 shares, compared to its average volume of 7,615,356. Coeur Mining has a 52 week low of $2.78 and a 52 week high of $8.29. The stock’s 50 day moving average is $7.14 and its two-hundred day moving average is $5.63. The company has a current ratio of 1.15, a quick ratio of 0.54 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.53 billion, a PE ratio of -659.00 and a beta of 0.94.

Coeur Mining (NYSE:CDE) last posted its earnings results on Monday, November 4th. The basic materials company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Coeur Mining had a negative return on equity of 4.07% and a negative net margin of 10.57%. The company had revenue of $199.47 million for the quarter, compared to the consensus estimate of $199.41 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. Coeur Mining’s revenue was up 34.1% on a year-over-year basis. On average, research analysts anticipate that Coeur Mining will post -0.19 EPS for the current year.

In other Coeur Mining news, SVP Casey M. Nault sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $7.00, for a total value of $140,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.88% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CDE. Voya Investment Management LLC grew its position in shares of Coeur Mining by 2.2% during the third quarter. Voya Investment Management LLC now owns 82,897 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 1,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Coeur Mining during the second quarter worth about $28,000. JPMorgan Chase & Co. grew its position in shares of Coeur Mining by 23.5% during the second quarter. JPMorgan Chase & Co. now owns 61,299 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 11,657 shares in the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Coeur Mining by 21.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 69,211 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 12,294 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of Coeur Mining during the third quarter worth about $68,000. Institutional investors and hedge funds own 64.05% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.

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