Coeur Mining Sees Unusually Large Options Volume (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) saw unusually large options trading activity on Thursday. Stock traders purchased 45,895 call options on the stock. This represents an increase of 43% compared to the average daily volume of 32,005 call options.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CDE. AQR Capital Management LLC lifted its holdings in Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock worth $4,434,000 after purchasing an additional 281,489 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Coeur Mining by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after acquiring an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coeur Mining by 122.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock valued at $14,393,000 after purchasing an additional 1,339,138 shares during the period. Focus Partners Wealth purchased a new position in shares of Coeur Mining in the first quarter worth approximately $60,000. Finally, Intech Investment Management LLC raised its stake in Coeur Mining by 58.4% during the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock valued at $1,594,000 after purchasing an additional 99,256 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Weiss Ratings lowered shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. Roth Mkm reaffirmed a “buy” rating and set a $29.00 price target on shares of Coeur Mining in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce initiated coverage on shares of Coeur Mining in a report on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Coeur Mining currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Coeur Mining Stock Up 1.3%

NYSE CDE traded up $0.25 on Thursday, hitting $19.00. 17,726,229 shares of the stock traded hands, compared to its average volume of 26,343,592. The stock has a 50-day moving average of $20.24 and a 200 day moving average of $19.39. Coeur Mining has a twelve month low of $6.20 and a twelve month high of $27.77. The company has a market capitalization of $12.19 billion, a P/E ratio of 21.89 and a beta of 1.24. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The business had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. During the same period in the prior year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 137.8% compared to the same quarter last year. As a group, analysts expect that Coeur Mining will post 1.42 earnings per share for the current fiscal year.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.