Stock traders buy large volume of Coeur Mining call options (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE – Get Rating) was the target of unusual options trading activity on Thursday. Stock traders bought 5,554 call options on the stock. This is a 250% increase from the average volume of 1,587 call options.

Coeur Mining trades down 9.8%

CDE stock traded down $0.36 by midday Thursday, hitting $3.31. 262,285 shares of the company were traded, against an average volume of 7,233,028. The company has a quick ratio of 0.95, a current ratio of 1.57 and a leverage ratio of 0.61. The company has a market capitalization of $929.48 million, a P/E ratio of -6.58 and a beta of 1.51. The company has a fifty-day simple moving average of $3.11 and a 200-day simple moving average of $3.49. Coeur Mining has a 12-month low of $2.54 and a 12-month high of $7.64.

Coeur Mining (NYSE:CDE – Get Rating) last reported results on Wednesday, August 3. The basic materials company reported ($0.05) earnings per share for the quarter. The company posted revenue of $204.12 million for the quarter, compared to $202.64 million expected by analysts. Coeur Mining had a negative return on equity of 4.88% and a negative net margin of 16.73%. On average, equity research analysts expect Coeur Mining to post -0.19 earnings per share for the current fiscal year.

Analyst upgrades and downgrades

CDE has been the subject of several analyst reports. Noble Financial downgraded Coeur Mining shares from an “outperforming” rating to a “market performance” rating in a Monday, August 8 research note. Canaccord Genuity Group upgraded Coeur Mining shares from a “buy” rating to a “hold” rating and cut its price target for the stock from $3.75 to $3.50 in a report of research from Friday August 5th. Canaccord Genuity Group upgraded Coeur Mining shares from a “buy” rating to a “hold” rating and cut its price target for the stock from $3.75 to $3.50 in a report of research from Friday August 5th. BMO Capital Markets cut its price target on Coeur Mining shares from $4.75 to $3.75 and set a “market performance” rating for the company in a Thursday, Aug. 4 research report. Finally, Raymond James raised his price target on Coeur Mining shares from $5.00 to $5.25 and gave the company a “market performance” rating in a Tuesday, September 20 research report. One investment analyst rated the stock with a sell rating and five gave the company a hold rating. According to MarketBeat.com, Coeur Mining currently has a consensus rating of “Hold” and an average target price of $4.25.

Institutional entries and exits

Several hedge funds and other institutional investors have recently changed their positions in CDE. State Street Corp increased its stake in Coeur Mining shares by 56.5% in the first quarter. State Street Corp now owns 27,794,163 shares of the basic materials company valued at $123,684,000 after purchasing an additional 10,035,506 shares during the period. Van ECK Associates Corp increased its stake in Coeur Mining shares by 12.2% in the second quarter. Van ECK Associates Corp now owns 26,821,281 shares of the basic materials company valued at $81,537,000 after purchasing an additional 2,909,130 ​​shares during the period. Assenagon Asset Management SA bought a new position in Coeur Mining shares in the first quarter valued at approximately $7,723,000. Dimensional Fund Advisors LP increased its stake in Coeur Mining shares by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,632,842 shares of the basic materials company valued at $38,416,000 after purchasing an additional 1,128,839 shares during the period. Finally, BlackRock Inc. increased its stake in Coeur Mining shares by 3.2% in the first quarter. BlackRock Inc. now owns 21,720,736 shares of the basic materials company valued at $96,658,000 after purchasing an additional 670,133 shares during the period. Hedge funds and other institutional investors own 63.13% of the company’s shares.

About Coeur Mining

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Coeur Mining, Inc explores precious metals in the United States, Canada and Mexico. The company primarily explores gold, silver, zinc and lead properties. It owns a 100% interest in the Palmarejo gold and silver mine covering an area of ​​approximately 67,296 net acres located in the state of Chihuahua in northern Mexico; the Rochester Silver and Gold Mine which covers an area of ​​approximately 43,441 net acres located in northwestern Nevada; the Kensington Gold Mine comprising 3,972 net acres located north of Juneau, Alaska; the Wharf Gold Mine covering an area of ​​approximately 3,243 net acres located in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.

Further reading

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