Coeur Mining (NYSE:CDE) Shares Surge 8.7% - Is It Still Worth Buying?

Coeur Mining, Inc. (NYSE:CDE) saw its stock price increase by 8.7% on Thursday. The share price reached a high of $6.23 before settling at $6.22. During the trading session, about 6.8 million shares exchanged hands, which is 16% lower than the average daily volume of around 8.1 million shares. The previous closing price was $5.72.

Analysts Update Their Price Targets

Several research analysts have recently published reports on Coeur Mining shares. On November 7th, Cantor Fitzgerald upgraded the stock from a "hold" rating to a "strong-buy" rating. StockNews.com also upgraded its rating, moving from "sell" to "hold" on November 8th. Raymond James revised their target price for Coeur Mining from $6.25 to $7.00 while maintaining a "market perform" rating as of September 20th. Furthermore, BMO Capital Markets raised their price target from $7.50 to $8.00, giving the stock an "outperform" rating on September 23rd. On October 8th, Canaccord Genuity Group increased their price objective from $7.00 to $7.75, assigning a "buy" rating. Overall, there are two analysts who rated the stock as a hold, four who classified it as a buy, and one who considers it a strong buy. According to MarketBeat.com, Coeur Mining has a consensus rating of "Moderate Buy" and a median price target of $7.81.

Coeur Mining's Stock Performance

The company's market capitalization stands at $2.45 billion, and it has a price-to-earnings ratio of -204.27, with a beta of 1.60. Coeur Mining's debt-to-equity ratio is 0.53, its current ratio is 1.09, and its quick ratio is 0.39. The stock has a 50-day moving average of $6.38 and a 200-day moving average of $6.29. The company reported its quarterly earnings on November 6th, with earnings per share (EPS) of $0.12, which exceeded the consensus estimate of $0.07 by $0.05. Although Coeur Mining recorded a negative net margin of 0.44%, it showed a positive return on equity of 1.78%. The company achieved a revenue figure of $313.50 million for the quarter, surpassing analysts' expectations of $289.19 million. In the same quarter last year, the company reported an earnings loss of ($0.05) per share. Year-over-year, Coeur Mining's revenue increased by 61.1%. Analysts predict that the company will post an EPS of 0.15 for the current fiscal year.

Recent Institutional Activity

Recently, large institutional investors have adjusted their holdings in Coeur Mining. Jennison Associates LLC added a new position valued at approximately $579,000. Similarly, XTX Topco Ltd purchased a new stake worth about $1.31 million in the third quarter. Van ECK Associates Corp increased its ownership by 1.1%, now holding 34,469,783 shares valued at $251.63 million after acquiring an additional 365,115 shares last quarter. U.S. Global Investors Inc. also grew its position by 160.4%, securing 586,000 shares valued at $4.03 million after purchasing an extra 361,000 shares. Lastly, AQR Capital Management LLC raised its holdings by 84.6%, now owning 487,609 shares worth $2.74 million after acquiring an additional 223,529 shares. In total, institutional investors and hedge funds control approximately 63.01% of the company's stock.

About Coeur Mining

Coeur Mining, Inc. is focused on exploring for precious metals in the United States, Canada, and Mexico. The company primarily concentrates on gold, silver, zinc, and lead properties, selling its concentrates to third-party customers and smelters under off-take agreements. It was formerly known as Coeur d'Alene Mines Corporation but changed its name to Coeur Mining, Inc. in May 2013.

Should You Invest in Coeur Mining?

Before making any investment decisions, potential investors may want to do some additional research. Recent analysis from Wall Street's top-rated analysts has highlighted several stocks they find to be better investment opportunities than Coeur Mining. It might be worth exploring those alternatives if you are considering where to put your money.

Coeur, Mining, Stocks