Van Eck Associates Corp. has recently announced that it has increased stake in Coeur Mining Inc (NYSE:CDE) by 5.42%. After grabbing 32.72 million shares, the institutional investor is now in possession of 1.68 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 8.55% having worth around $99.8 million. Moreover, The Vanguard Group, Inc. increased its share by 1.7 million to have a control over 31.32 million shares. And SSgA Funds Management, Inc. raised its holdings to 5.86 million shares by acquiring 26.65 million shares or 6.97% of the stake.
Coeur Mining Inc (CDE) concluded trading on 01/03/24 at a closing price of $2.89, with 10.19 million shares of worth about $29.44 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.58% during that period and on Wednesday the price saw a loss of about -9.69%. Currently the company’s common shares owned by public are about 382.61M shares, out of which, 377.23M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the CDE stock and their offered price forecasts bring an average price target of $3.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $4.25 and could fall to a lowest price of $3.00. The stock’s current price level is 22.1% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.67% for the stock. However, touching the estimated high of $4.25 would mean a gain of 32.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 81 times over the past 12 months. They bought 1,639,869 shares in 42 of the transactions. In 39 selling transactions, insiders dumped 442,773 shares.
SPDR S&P Metals & Mining ETF, VanEck Gold Miners ETF, and VanEck Junior Gold Miners ETF are the top 3 mutual funds which are holding stakes in Coeur Mining Inc SPDR S&P Metals & Mining ETF is currently holding 20.21 million shares of worth totaling $61.65 million. The company recently came selling 30114.0 shares which brought its stake up to 5.28% of the company’s outstanding shares. VanEck Junior Gold Miners ETF, after buying 11.5 million shares, have now control over 3.01% of the stake in the company. It holds 0.0 shares of worth $35.09 million.
Coeur Mining Inc (NYSE: CDE) started trading at $3.05, below -$0.15 from concluding price of the previous day. However, the stock later moved at a day high price of 3.0650, or with a loss of -9.69%. Stock saw a price change of -16.71% in past 5 days and over the past one month there was a price change of -8.54%. Year-to-date (YTD), CDE shares are showing a performance of -11.35% which decreased to -13.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.00 but also hit the highest price of $4.55 during that period. The average intraday trading volume for Coeur Mining Inc shares is 6.20 million. The stock is currently trading -11.92% below its 20-day simple moving average (SMA20), while that difference is up 1.41% for SMA50 and it goes to -1.75% lower than SMA200.
Van Eck Associates Corp. acquired 32.72 million shares of Coeur Mining Inc having value of about $99.8 million. Data submitted at the U.S SEC by Van Eck Associates Corp. revealed that the firm now holds 1.68 million shares in the company valued at close to $4860136.12, or have control over 5.42% stake in the company. Coeur Mining Inc (NYSE: CDE) currently have 382.61M outstanding shares and institutions hold larger chunk of about 71.14% of that. Holding of mutual funds in the company is about 20.11% while other institutional holders and individual stake holders have control over 51.29% and 1.93% of the stake respectively.
The stock has a current market capitalization of $1.11B and its 3Y-monthly beta is at 1.79. It has posted earnings per share of -$0.07 in the same period. It has Quick Ratio of 0.41 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CDE, volatility over the week remained 5.20% while standing at 6.42% over the month.
Analysts are in expectations that Coeur Mining Inc (CDE) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.07 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 32.59% while it is estimated to increase by 130.46% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Coeur Mining Inc (CDE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.71. Out of those 7 Wall Street analysts, 4 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on November 03, 2023 offering a Market perform rating for the stock and assigned a target price of $2.75 to it.
