Coeur Mining (NYSE:CDE) PT Raised to $7.75 at Raymond James

Coeur Mining (NYSE:CDE) had its target price hoisted by Raymond James from $6.75 to $7.75 in a report released on Friday, BayStreet.CA reports. The firm presently has a “market perform” rating on the basic materials company’s stock. Raymond James’ target price points to a potential downside of 2.27% from the stock’s current price. Raymond James also issued estimates for Coeur Mining’s Q3 2020 earnings at $0.07 EPS, Q4 2020 earnings at $0.07 EPS, Q1 2021 earnings at $0.08 EPS, Q2 2021 earnings at $0.06 EPS and FY2021 earnings at $0.27 EPS.

A number of other analysts have also commented on the company. Cantor Fitzgerald initiated coverage on Coeur Mining in a report on Friday. They issued a “buy” rating and a $8.50 price target on the stock. Zacks Investment Research raised Coeur Mining from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Wednesday, July 15th. BMO Capital Markets lowered their price objective on shares of Coeur Mining from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, April 23rd. Canaccord Genuity raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Tuesday, July 21st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $6.00 target price on shares of Coeur Mining in a research report on Monday, July 20th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.47.

Shares of CDE stock opened at $7.93 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.53 and a quick ratio of 0.63. Coeur Mining has a 12-month low of $1.98 and a 12-month high of $8.61. The firm has a fifty day moving average of $5.68 and a 200-day moving average of $5.00.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $151.99 million. Coeur Mining had a negative return on equity of 0.94% and a negative net margin of 41.33%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. Equities analysts predict that Coeur Mining will post 0.2 EPS for the current fiscal year.

In related news, SVP Casey M. Nault sold 30,000 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $8.01, for a total transaction of $240,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackay Shields LLC bought a new position in shares of Coeur Mining in the first quarter worth about $50,000. Principal Financial Group Inc. increased its position in Coeur Mining by 47.5% during the 1st quarter. Principal Financial Group Inc. now owns 19,170 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 6,170 shares in the last quarter. Falcon Point Capital LLC bought a new position in Coeur Mining in the 2nd quarter valued at approximately $88,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Coeur Mining by 32.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,062 shares of the basic materials company’s stock valued at $117,000 after buying an additional 5,595 shares in the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Coeur Mining during the fourth quarter worth $130,000. 66.08% of the stock is owned by institutional investors.

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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