Fintel reports that on July 24, 2023, Canaccord Genuity upgraded their outlook for Coeur Mining (NYSE:CDE) from Hold to Buy.

Analyst Price Forecast Suggests 51.98% Upside

As of July 6, 2023, the average one-year price target for Coeur Mining is 4.77. The forecasts range from a low of 3.79 to a high of $6.30. The average price target represents an increase of 51.98% from its latest reported closing price of 3.14.

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The projected annual revenue for Coeur Mining is 842MM, an increase of 7.30%. The projected annual non-GAAP EPS is -0.06.

What is the Fund Sentiment?

There are 378 funds or institutions reporting positions in Coeur Mining. This is a decrease of 15 owner(s) or 3.82% in the last quarter. Average portfolio weight of all funds dedicated to CDE is 0.07%, a decrease of 78.71%. Total shares owned by institutions increased in the last three months by 14.02% to 253,136K shares. The put/call ratio of CDE is 0.21, indicating a bullish outlook.

What are Other Shareholders Doing?

Van Eck Associates holds 29,788K shares representing 8.71% ownership of the company. In it’s prior filing, the firm reported owning 25,887K shares, representing an increase of 13.10%. The firm increased its portfolio allocation in CDE by 20.41% over the last quarter.

GDX – VanEck Vectors Gold Miners ETF holds 17,318K shares representing 5.06% ownership of the company. In it’s prior filing, the firm reported owning 14,561K shares, representing an increase of 15.92%. The firm increased its portfolio allocation in CDE by 21.72% over the last quarter.

XME – SPDR(R) S&P(R) Metals & Mining ETF holds 15,460K shares representing 4.52% ownership of the company. In it’s prior filing, the firm reported owning 13,227K shares, representing an increase of 14.44%. The firm increased its portfolio allocation in CDE by 19.22% over the last quarter.

GDXJ – VanEck Vectors Junior Gold Miners ETF holds 9,668K shares representing 2.83% ownership of the company. In it’s prior filing, the firm reported owning 9,006K shares, representing an increase of 6.84%. The firm increased its portfolio allocation in CDE by 12.47% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,704K shares representing 2.55% ownership of the company. In it’s prior filing, the firm reported owning 7,680K shares, representing an increase of 11.76%. The firm increased its portfolio allocation in CDE by 24.27% over the last quarter.

Coeur Mining Background Information
(This description is provided by the company.)

Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip silver-zinc-lead mine in British Columbia. In addition, Coeur has interests in several precious metals exploration projects throughout North America.

This article originally appeared on Fintel

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