Noble Capital Markets lifts Coeur Mining Inc. [CDE] price estimate. Who else is bullish?

Coeur Mining Inc. [NYSE: CDE] stock went on an upward path that rose over 6.67% on Tuesday, amounting to a one-week price increase of more than 9.92%. The company report on November 4, 2022 that Coeur Completes Sale of Southern Nevada Holdings for Upfront Cash Consideration of $150 million.

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Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today announced the closing of the transaction to sell its Crown and Sterling holdings (“Crown Sterling”) to a subsidiary of AngloGold Ashanti Limited (“AngloGold”) (NYSE: AU). Under the terms of the previously announced transaction, Coeur received cash consideration of $150 million at closing. The Company will receive an additional deferred cash consideration of $50 million upon Crown Sterling attaining a total resource of at least 3.5 million gold ounces. The Crown Sterling holdings comprise approximately 35,500 net acres and are located adjacent to AngloGold’s existing gold projects in Nye County, Nevada.

The sale of Crown Sterling is consistent with Coeur’s strategy of monetizing non-core assets and prioritizing high-return growth from its North American asset portfolio, including the expansion project at the Rochester mine in Nevada, which is expected to be completed mid-next year.

Over the last 12 months, CDE stock dropped by -39.07%. The one-year Coeur Mining Inc. stock forecast points to a potential upside of 3.79. The average equity rating for CDE stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.17 billion, with 278.04 million shares outstanding and 276.53 million shares in the current float. Compared to the average trading volume of 5.15M shares, CDE stock reached a trading volume of 6728060 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Coeur Mining Inc. [CDE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDE shares is $4.49 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDE stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Noble Capital Markets have made an estimate for Coeur Mining Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 08, 2022. The new note on the price target was released on August 05, 2022, representing the official price target for Coeur Mining Inc. stock. Previously, the target price had yet another raise to $4.75, while Canaccord Genuity analysts kept a Hold rating on CDE stock.

The Average True Range (ATR) for Coeur Mining Inc. is set at 0.29, with the Price to Sales ratio for CDE stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.60.

CDE Stock Performance Analysis:

Coeur Mining Inc. [CDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.92. With this latest performance, CDE shares gained by 24.86% in over the last four-week period, additionally plugging by 32.92% over the last 6 months – not to mention a drop of -39.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDE stock in for the last two-week period is set at 63.58, with the RSI for the last a single of trading hit 67.34, and the three-weeks RSI is set at 61.27 for Coeur Mining Inc. [CDE]. The present Moving Average for the last 50 days of trading for this stock 3.38, while it was recorded at 3.90 for the last single week of trading, and 3.77 for the last 200 days.

Insight into Coeur Mining Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Coeur Mining Inc. [CDE] shares currently have an operating margin of +10.07 and a Gross Margin at +15.54. Coeur Mining Inc.’s Net Margin is presently recorded at -3.76.

Return on Equity for this stock declined to -4.19, with Return on Assets sitting at -2.00.

Coeur Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.

Coeur Mining Inc. [CDE] Insider Position Details

There are presently around $762 million, or 73.20% of CDE stock, in the hands of institutional investors. The top three institutional holders of CDE stocks are: VAN ECK ASSOCIATES CORP with ownership of 26,014,573, which is approximately -3.008% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 25,707,463 shares of the stock with an approximate value of $111.06 million in CDE stocks shares; and VANGUARD GROUP INC, currently with $107.62 million in CDE stock with ownership of nearly 9.377% of the company’s market capitalization.

Positions in Coeur Mining Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 80 institutional holders increased their position in Coeur Mining Inc. [NYSE:CDE] by around 15,405,555 shares. Additionally, 103 investors decreased positions by around 28,071,614 shares, while 46 investors held positions by with 132,809,546 shares. The mentioned changes placed institutional holdings at 176,286,715 shares, according to the latest SEC report filing. CDE stock had 18 new institutional investments in for a total of 1,086,749 shares, while 38 institutional investors sold positions of 6,560,682 shares during the same period.


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