Coeur Mining Inc. (NYSE: CDE) stock fell -5.14% on Wednesday to $3.14 against a previous-day closing price of $3.31. With 3.41 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.87 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $3.3000 whereas the lowest price it dropped to was $3.1200. The 52-week range on CDE shows that it touched its highest point at $4.55 and its lowest point at $2.54 during that stretch. It currently has a 1-year price target of $4.62. Beta for the stock currently stands at 1.57.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CDE was down-trending over the past week, with a drop of -6.55%, but this was down by -14.21% over a month. Three-month performance surged to 4.32% while six-month performance fell -3.09%. The stock lost -14.21% in the past year, while it has lost -6.55% so far this year. A look at the trailing 12-month EPS for CDE yields -0.39 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.04. This implies an EPS growth rate of -126.60% for this year and 164.30% for next year.
Float and Shares Shorts:
At present, 300.95 million CDE shares are outstanding with a float of 276.60 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.2 million, which was 3.44% higher than short shares on Mar 30, 2023. In addition to Mr. Mitchell J. Krebs as the firm’s Pres, CEO & Director, Mr. Thomas S. Whelan serves as its Sr. VP & CFO.
Institutional Ownership:
Through their ownership of 66.35% of CDE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.44% of CDE, in contrast to 27.28% held by mutual funds. Shares owned by individuals account for 2.48%. As the largest shareholder in CDE with 10.08% of the stake, Van Eck Associates Corp. holds 29,788,157 shares worth 29,788,157. A second-largest stockholder of CDE, The Vanguard Group, Inc., holds 27,054,342 shares, controlling over 9.15% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CDE, holding 21,273,776 shares or 7.20% stake. With a 5.67% stake in CDE, the VanEck Gold Miners ETF is the largest stakeholder. A total of 16,749,311 shares are owned by the mutual fund manager. The SPDR S&P Metals & Mining ETF, which owns about 4.97% of CDE stock, is the second-largest Mutual Fund holder. It holds 14,701,940 shares valued at 49.99 million. VanEck Junior Gold Miners ETF holds 3.36% of the stake in CDE, owning 9,930,028 shares worth 33.76 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CDE reported revenue of $204.12M and operating income of $7.38M. The EBITDA in the recently reported quarter was $29.72M and diluted EPS was -$0.28.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CDE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CDE analysts setting a high price target of $6.00 and a low target of $3.75, the average target price over the next 12 months is $4.63. Based on these targets, CDE could surge 91.08% to reach the target high and rise by 19.43% to reach the target low. Reaching the average price target will result in a growth of 47.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CDE stock several times over the past three months with 15 Buys and 1 Sells. In these transactions, 1,131,214 shares were bought while 52,702 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 1,536,459 while 400,550 shares were sold.
