Coeur Mining Inc (NYSE: CDE): Stock Forecast For 2024 Still Looks Weak With A -6.1% Decline

In the last trading session, 7.19 million shares of the Coeur Mining Inc (NYSE:CDE) were traded, and its beta was 1.81. Most recently the company’s share price was $3.77, and it changed around $0.2 or 5.60% from the last close, which brings the market valuation of the company to $1.46B. CDE currently trades at a discount to its 52-week high of $4.55, offering almost -20.69% off that amount. The share price’s 52-week low was $2.00, which indicates that the current value has risen by an impressive 46.95% since then. We note from Coeur Mining Inc’s average daily trading volume that its 10-day average is 6.09 million shares, with the 3-month average coming to 6.44 million.

Coeur Mining Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.62. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended CDE as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Coeur Mining Inc is expected to report earnings per share of -$0.03 for the current quarter.

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Coeur Mining Inc (NYSE:CDE) trade information

Instantly CDE has showed a green trend with a performance of 5.60% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 15.64% year-to-date, but still up 10.88% over the last five days. On the other hand, Coeur Mining Inc (NYSE:CDE) is 53.88% up in the 30-day period. We can see from the shorts that 20.66 million shares have been sold at a short interest cover period of 2.94 day(s).

The consensus price target as assigned by Wall Street analysts is $3.75, which translates to bulls needing to decrease their stock price by -0.53% from its current value. Analyst projections state that CDE is forecast to be at a low of $3.5 and a high of $4.

Coeur Mining Inc (CDE) estimates and forecasts

Coeur Mining Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 72.15 percent over the past six months and at a 78.26% annual growth rate that is well above the industry average of 11.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 72.70% in revenue this quarter, and will report an increase of 83.30% in the next quarter. The year-over-year growth rate is expected to be 14.00%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $260 million in revenue for the current quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 38.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.67%.

CDE Dividends

Coeur Mining Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.

Coeur Mining Inc (NYSE:CDE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.62% of Coeur Mining Inc shares, and 73.07% of them are in the hands of institutional investors. The stock currently has a share float of 74.27%. Coeur Mining Inc stock is held by 281 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 9.24% of the shares, which is about 32.64 million shares worth $92.69 million.

Van Eck Associates Corporation, with 8.79% or 31.04 million shares worth $88.15 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 18.79 million shares worth $41.71 million, making up 5.32% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF held roughly 14.12 million shares worth around $34.04 million, which represents about 4.00% of the total shares outstanding.