Coeur Mining (NYSE:CDE) Shares Gap Up After Better-Than-Expected Earnings

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $5.91, but opened at $6.38. Coeur Mining shares last traded at $6.34, with a volume of 4,492,496 shares traded.

The basic materials company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $313.50 million during the quarter, compared to analysts' expectations of $289.19 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. Coeur Mining's quarterly revenue was up 61.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS.

Analyst Upgrades and Downgrades

CDE has been the subject of a number of recent analyst reports. BMO Capital Markets upped their target price on Coeur Mining from $7.50 to $8.00 and gave the company an "outperform" rating in a report on Monday, September 23rd. Canaccord Genuity Group upped their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Cantor Fitzgerald lowered shares of Coeur Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, August 8th. Raymond James increased their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a "market perform" rating in a research note on Friday, September 20th. Finally, Roth Mkm raised their price objective on shares of Coeur Mining from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $7.81.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CWM LLC increased its stake in shares of Coeur Mining by 831.5% during 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. Point72 Asia Singapore Pte. Ltd. bought a new position in Coeur Mining during the 2nd quarter valued at approximately $49,000. Hohimer Wealth Management LLC purchased a new position in Coeur Mining during the second quarter valued at $57,000. WINTON GROUP Ltd bought a new stake in Coeur Mining in the second quarter worth $57,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Coeur Mining in the second quarter worth $59,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

The firm has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $6.00. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.63 billion, a P/E ratio of -31.38 and a beta of 1.65.

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.