Coeur Mining Target of Unusually Large Options Trading (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) saw unusually large options trading activity on Friday. Traders bought 40,720 call options on the company. This is an increase of approximately 956% compared to the average volume of 3,855 call options.

Coeur Mining Price Performance

NYSE:CDE traded down $0.56 during midday trading on Friday, hitting $5.54. The company had a trading volume of 16,137,702 shares, compared to its average volume of 16,899,379. Coeur Mining has a 52-week low of $2.42 and a 52-week high of $7.72. The stock’s fifty day moving average price is $6.33 and its 200-day moving average price is $6.39. The company has a market capitalization of $2.21 billion, a PE ratio of 46.16 and a beta of 1.59. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.71%. The company had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. As a group, research analysts expect that Coeur Mining will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James raised shares of Coeur Mining from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $8.75 to $8.25 in a report on Friday. BMO Capital Markets assumed coverage on shares of Coeur Mining in a report on Tuesday. They set an “outperform” rating and a $9.00 target price on the stock. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a report on Thursday. Roth Mkm reissued a “buy” rating and set a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Finally, StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and an average target price of $8.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDE. GAMMA Investing LLC boosted its position in Coeur Mining by 139.8% during the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after buying an additional 3,359 shares during the period. Quarry LP boosted its position in Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after buying an additional 5,968 shares during the period. Optiver Holding B.V. boosted its position in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock valued at $47,000 after buying an additional 4,903 shares during the period. FNY Investment Advisers LLC purchased a new stake in Coeur Mining during the fourth quarter valued at about $57,000. Finally, DRW Securities LLC purchased a new stake in Coeur Mining during the fourth quarter valued at about $60,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.