The Vanguard Group, Inc. 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 3.94% to 25.37 million shares with purchase of 0.96 million shares. This fresh investment now brings its stake to 9.03% valued currently at $95.9 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1.01 million to 21.53 million shares. And BlackRock Fund Advisors has lifted its position by 0.17% or 31778.0 shares – to 19.12 million shares.
With over 6.57 million Coeur Mining Inc. (CDE) shares trading Tuesday and a closing price of $3.27 on the day, the dollar volume was approximately $21.48 million. The shares have shown a negative half year performance of -15.94% and its price on 11/29/22 gained nearly 2.83%. Currently, there are 278.11M common shares owned by the public and among those 276.60M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CDE have a consensus price objective of $4.25. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $3.00. The average price target is 23.06% above its recent price level and a downside to the estimated low will see the stock lose -9.0% over that period. But an upside of 45.5% 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 64 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 1,431,896 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 511,956 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 17.31 million shares of the company’s stock, all valued at over $65.43 million. The company sold -0.18 million shares recently to bring their total holdings to about 6.16% of the shares outstanding. VanEck Gold Miners ETF sold 14832.0 shares to see its total holdings shrink to 15.16 million shares valued at over $57.31 million and representing 5.40% of the shares outstanding. VanEck Junior Gold Miners ETF now owns shares totaling to 3.29% of the shares outstanding.
Shares of Coeur Mining Inc. (NYSE: CDE) opened at $3.27, up $0.09 from a prior closing price of $3.18. However, the script later moved the day high at 3.3650, up 2.83%. The company’s stock has a 5-day price change of 0.93% and 18.91% over the past three months. CDE shares are trading -35.12% year to date (YTD), with the 12-month market performance down to -42.33% lower. It has a 12-month low price of $2.54 and touched a high of $5.89 over the same period. CDE has an average intraday trading volume of 5.59 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 -9.47%, -7.54%, and -11.25% respectively.
Institutional ownership of Coeur Mining Inc. (NYSE: CDE) shares accounts for 76.00% of the company’s 278.11M shares outstanding. Mutual fund holders own 2.15%, while other institutional holders and individual stakeholders account for 54.12% and 19.39% respectively.
It has a market capitalization of $915.99M and a beta (3y monthly) value of 1.50. The earnings-per-share (ttm) stands at -$0.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.12% over the week and 6.31% over the month.
Analysts forecast that Coeur Mining Inc. (CDE) will achieve an EPS of -$0.06 for the current quarter, -$0.03 for the next quarter and $0.01 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -218.60%, and 80.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Coeur Mining Inc. (CDE) as a “Hold” at a consensus score of 3.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
Canaccord Genuity coverage for the Coeur Mining Inc. (CDE) stock in a research note released on August 05, 2022 offered a Hold rating with a price target of $3.50. Canaccord Genuity was of a view on February 17, 2022 that the stock is Hold, while Noble Capital Markets gave the stock Outperform rating on January 31, 2022, issuing a price target of $5.25. RBC Capital Mkts on their part issued Sector Perform rating on June 02, 2021.