Van Eck Associates Corp. recently announced the acquisition of new stake in Coeur Mining Inc (NYSE:CDE). The institutional investor has increased its shareholding in the Basic Materials company by 5.42% to 32.72 million shares with purchase of 1.68 million shares. This fresh investment now brings its stake to 8.55% valued currently at $99.8 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.7 million to 31.32 million shares. And SSgA Funds Management, Inc. has lifted its position by 28.18% or 5.86 million shares – to 26.65 million shares.
With over 6.25 million Coeur Mining Inc (CDE) shares trading Monday and a closing price of $2.81 on the day, the dollar volume was approximately $17.57 million. The shares have shown a negative half year performance of -0.35% and its price on 01/08/24 lost nearly -0.71%. Currently, there are 382.61M common shares owned by the public and among those 377.24M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for CDE have a consensus price objective of $3.79. The analysts have set the share’s price value over the next 12 months at a high of $4.25 and a low of $3.00. The average price target is 25.86% above its recent price level and an upside to the estimated low will see the stock gain 6.33% over that period. But an upside of 33.88% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 1,639,869 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 442,773 shares.
The top 3 mutual fund holders in Coeur Mining Inc are SPDR S&P Metals & Mining ETF, VanEck Gold Miners ETF, and VanEck Junior Gold Miners ETF. SPDR S&P Metals & Mining ETF owns 20.21 million shares of the company’s stock, all valued at over $61.65 million. The company sold 30114.0 shares recently to bring their total holdings to about 5.28% of the shares outstanding. VanEck Junior Gold Miners ETF now owns shares totaling to 3.01% of the shares outstanding.
Shares of Coeur Mining Inc (NYSE: CDE) opened at $2.77, down -$0.06 from a prior closing price of $2.83. However, the script later moved the day high at 2.8500, down -0.71%. The company’s stock has a 5-day price change of -13.80% and 27.73% over the past three months. CDE shares are trading -13.80% year to date (YTD), with the 12-month market performance down to -20.40% lower. It has a 12-month low price of $2.00 and touched a high of $4.55 over the same period. CDE has an average intraday trading volume of 6.23 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.83%, -1.99%, and -4.33% respectively.
Institutional ownership of Coeur Mining Inc (NYSE: CDE) shares accounts for 71.15% of the company’s 382.61M shares outstanding. Mutual fund holders own 20.09%, while other institutional holders and individual stakeholders account for 51.31% and 1.93% respectively.
It has a market capitalization of $1.08B and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.31% over the week and 6.32% over the month.
Analysts forecast that Coeur Mining Inc (CDE) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.07 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 32.59%, and 130.46% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Coeur Mining Inc (CDE) as a “Strong Buy” at a consensus score of 1.71. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CDE, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on November 03, 2023, with the firm’s price target at $2.75.
