Coeur Mining (NYSE:CDE) Shares Gap Up – Still a Buy?

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $6.92, but opened at $7.24. Coeur Mining shares last traded at $7.15, with a volume of 1,824,676 shares.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $8.50 price objective (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Price Performance

The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -232.76 and a beta of 1.59. The stock’s 50-day moving average price is $6.36 and its 200 day moving average price is $6.37. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC acquired a new stake in shares of Coeur Mining during the 3rd quarter valued at about $579,000. JPMorgan Chase & Co. grew its stake in shares of Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock valued at $9,761,000 after purchasing an additional 665,452 shares during the period. XTX Topco Ltd acquired a new position in shares of Coeur Mining in the 3rd quarter worth approximately $1,311,000. Van ECK Associates Corp lifted its position in shares of Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after buying an additional 365,115 shares during the period. Finally, U S Global Investors Inc. boosted its stake in Coeur Mining by 160.4% in the 3rd quarter. U S Global Investors Inc. now owns 586,000 shares of the basic materials company’s stock valued at $4,032,000 after buying an additional 361,000 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

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.