Coeur Mining (NYSE:CDE) Shares Surge 8.7%: Is It Still a Buy?

On Thursday, shares of Coeur Mining, Inc. (NYSE:CDE) surged by 8.7%. The stock reached a high of $6.23 and closed slightly lower at $6.22. During the day, the trading volume was approximately 6,799,536 shares, which is 16% lower than the average trading volume of 8,065,218 shares. Previously, the stock had closed at $5.72.

Analysts Update Price Predictions

Several analysts recently revised their recommendations for Coeur Mining. Cantor Fitzgerald upgraded the stock from a "hold" to a "strong-buy" on November 7th. StockNews.com also raised their rating from "sell" to "hold" on November 8th. Raymond James increased their target price for the stock from $6.25 to $7.00 while maintaining a "market perform" rating on September 20th. BMO Capital Markets raised their target from $7.50 to $8.00, giving the stock an "outperform" rating on September 23rd. Canaccord Genuity Group increased their target from $7.00 to $7.75 and rated the stock as a "buy" on October 8th. Overall, two analysts maintained a hold rating, four analysts suggested a buy rating, and one issued a strong buy rating. According to MarketBeat.com, the consensus rating is "Moderate Buy" with a price target of $7.81.

Coeur Mining's Stock Performance

Coeur Mining has a market cap of $2.45 billion with a price-to-earnings ratio of -204.27 and a beta of 1.60. The company demonstrates a debt-to-equity ratio of 0.53, a current ratio of 1.09, and a quick ratio of 0.39. Its 50-day moving average stands at $6.38, while the 200-day moving average is $6.29.

Recently, Coeur Mining released its quarterly earnings on November 6th, reporting an earnings per share (EPS) of $0.12, surpassing analysts' expectations of $0.07 by $0.05. The company's net margin was slightly negative at 0.44%, but it achieved a positive return on equity of 1.78%. Revenue for the quarter reached $313.5 million, exceeding the expected $289.19 million. Compared to the same quarter last year, revenue increased by 61.1%. Analysts project that Coeur Mining will post an EPS of $0.15 for the current year.

Institutional Investment Changes

Recent activity among large investors shows some significant changes in their positions regarding Coeur Mining. During the third quarter, Jennison Associates LLC established a new position valued at around $579,000. XTX Topco Ltd also acquired a new stake worth approximately $1.31 million. Meanwhile, Van ECK Associates Corp increased its investment by 1.1%, now owning shares worth $251.63 million after adding 365,115 shares. U S Global Investors Inc. raised its stakes significantly by 160.4%, now holding shares valued at approximately $4.03 million after acquiring 361,000 additional shares. Lastly, AQR Capital Management LLC grew its holdings by 84.6%, valuing its total ownership at $2.74 million after purchasing 223,529 additional shares. Institutional and hedge fund investments account for about 63.01% of the company's stock.

About Coeur Mining

Coeur Mining, Inc. is engaged in exploring precious metals principally in the United States, Canada, and Mexico. The company mainly focuses on discovering gold, silver, zinc, and lead. It sells its concentrates to third-party customers and smelters under various agreements. Coeur Mining was previously known as Coeur d'Alene Mines Corporation and rebranded in May 2013.

Should You Consider Investing in Coeur Mining?

It may be important to evaluate whether investing in Coeur Mining aligns with your financial goals. While the company currently carries a "Buy" rating from several analysts, others may have differing opinions. Keeping an eye on more recommended stocks could provide additional options for investment.

Coeur, Mining, Stocks