Canaccord Genuity Upgrades Coeur Mining

By 247patrick Updated Jul 25, 11:46AM EDT · Published Jul 24, 11:39PM EDT

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Canaccord Genuity Upgrades Coeur Mining — © andresr / E+ via Getty Images

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.

See our leaderboard of companies with the largest price target upside.

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