Coeur Mining Sees Unusually Large Options Volume (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the target of some unusual options trading activity on Monday. Stock investors purchased 23,568 call options on the company. This is an increase of approximately 16% compared to the average volume of 20,339 call options.

Coeur Mining Price Performance

Shares of NYSE CDE traded up $1.42 during midday trading on Monday, hitting $21.82. 11,822,928 shares of the company’s stock were exchanged, compared to its average volume of 20,181,947. The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average price is $16.61 and its two-hundred day moving average price is $14.88. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 32.94 and a beta of 1.24. Coeur Mining has a 12-month low of $4.58 and a 12-month high of $23.61.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The company had revenue of $554.57 million during the quarter, compared to analysts’ expectations of $511.20 million. During the same period in the prior year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year. As a group, research analysts forecast that Coeur Mining will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Coeur Mining by 84.0% during the second quarter. JPMorgan Chase & Co. now owns 2,881,784 shares of the basic materials company’s stock valued at $25,533,000 after acquiring an additional 1,315,348 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Coeur Mining by 246.5% in the 3rd quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company’s stock valued at $11,410,000 after purchasing an additional 432,683 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in shares of Coeur Mining during the 3rd quarter valued at $5,768,000. Range Financial Group LLC purchased a new position in Coeur Mining in the 2nd quarter worth $1,115,000. Finally, Allspring Global Investments Holdings LLC raised its position in Coeur Mining by 29.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,368,071 shares of the basic materials company’s stock worth $44,709,000 after purchasing an additional 539,615 shares during the period. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the subject of several recent research reports. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Raymond James Financial set a $21.00 target price on Coeur Mining in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. Roth Capital raised their price objective on shares of Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $16.75.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.