BMO Capital Markets Begins Coverage on Coeur Mining, Inc. (CDE)

BMO Capital Markets assumed coverage on shares of Coeur Mining, Inc. (NYSE:CDE) in a report issued on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $10.50 price target on the basic materials company’s stock.

Several other brokerages have also recently weighed in on CDE. Royal Bank Of Canada reissued a buy rating on shares of Coeur Mining in a research note on Wednesday, September 27th. Raymond James Financial, Inc. raised their target price on Coeur Mining from $9.50 to $12.50 and gave the stock a market perform rating in a research note on Friday, September 15th. Noble Financial reaffirmed a hold rating on shares of Coeur Mining in a research note on Tuesday, October 31st. BidaskClub cut Coeur Mining from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research raised Coeur Mining from a sell rating to a hold rating in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $10.84.

Shares of Coeur Mining (NYSE CDE) opened at $7.42 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.51 and a debt-to-equity ratio of 0.36. Coeur Mining has a one year low of $6.98 and a one year high of $12.30.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.17). The company had revenue of $176.00 million during the quarter, compared to analyst estimates of $185.09 million. Coeur Mining had a negative net margin of 2.41% and a negative return on equity of 1.37%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. research analysts predict that Coeur Mining will post -0.05 EPS for the current fiscal year.

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In other Coeur Mining news, COO Frank L. Jr. Hanagarne sold 28,800 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $8.50, for a total value of $244,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Spurbeck sold 9,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.25, for a total value of $87,875.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,610 shares of company stock worth $708,955. Corporate insiders own 1.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. U S Global Investors Inc. boosted its holdings in Coeur Mining by 84.8% in the third quarter. U S Global Investors Inc. now owns 200,000 shares of the basic materials company’s stock worth $1,838,000 after acquiring an additional 91,776 shares in the last quarter. Royce & Associates LP bought a new position in Coeur Mining in the third quarter worth approximately $6,203,000. Engineers Gate Manager LP bought a new position in Coeur Mining in the third quarter worth approximately $759,000. Commerzbank Aktiengesellschaft FI boosted its holdings in Coeur Mining by 40.7% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 264,512 shares of the basic materials company’s stock worth $2,431,000 after acquiring an additional 76,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Coeur Mining by 29.5% in the third quarter. Dimensional Fund Advisors LP now owns 6,029,110 shares of the basic materials company’s stock worth $55,408,000 after acquiring an additional 1,374,250 shares in the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.

Analyst Recommendations for Coeur Mining (NYSE:CDE)

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