Coeur Mining Inc. (NYSE: CDE) stock jumped 3.93% on Friday to $2.38 against a previous-day closing price of $2.29. With 24.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.55 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $2.4200 whereas the lowest price it dropped to was $2.3400. The 52-week range on CDE shows that it touched its highest point at $4.55 and its lowest point at $2.19 during that stretch. It currently has a 1-year price target of $4.25. Beta for the stock currently stands at 1.61.
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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 up-trending over the past week, with a rise of 7.69%, but this was up by 3.93% over a month. Three-month performance dropped to -23.47% while six-month performance fell -18.49%. The stock lost -22.48% in the past year, while it has lost -29.17% so far this year. A look at the trailing 12-month EPS for CDE yields -0.21 with Next year EPS estimates of 0.13. For the next quarter, that number is -0.01. This implies an EPS growth rate of -126.60% for this year and 186.70% for next year.
Float and Shares Shorts:
At present, 353.16 million CDE shares are outstanding with a float of 347.41 million shares on hand for trading. On Aug 30, 2023, short shares totaled 25.78 million, which was 7.30% higher than short shares on Jul 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 71.67% of CDE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.65% of CDE, in contrast to 21.92% held by mutual funds. Shares owned by individuals account for 2.09%. As the largest shareholder in CDE with 8.79% of the stake, Van Eck Associates Corp. holds 31,040,391 shares worth 31,040,391. A second-largest stockholder of CDE, The Vanguard Group, Inc., holds 29,619,050 shares, controlling over 8.39% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CDE, holding 23,707,333 shares or 6.71% stake. With a 5.04% stake in CDE, the VanEck Gold Miners ETF is the largest stakeholder. A total of 17,790,048 shares are owned by the mutual fund manager. The SPDR S&P Metals & Mining ETF, which owns about 3.96% of CDE stock, is the second-largest Mutual Fund holder. It holds 13,999,390 shares valued at 33.74 million. VanEck Junior Gold Miners ETF holds 3.14% of the stake in CDE, owning 11,091,190 shares worth 26.73 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 Jun 29, 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 $5.25 and a low target of $3.25, the average target price over the next 12 months is $4.25. Based on these targets, CDE could surge 120.59% to reach the target high and rise by 36.55% to reach the target low. Reaching the average price target will result in a growth of 78.57% 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 2 Buys and 0 Sells. In these transactions, 4,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 39 over the past year. The total number of shares bought during that period was 1,632,669 while 442,773 shares were sold.
