Fintel reports that on September 22, 2023, RBC Capital upgraded their outlook for Coeur Mining (NYSE:CDE) from Sector Perform to Outperform.

Analyst Price Forecast Suggests 104.48% Upside

As of August 31, 2023, the average one-year price target for Coeur Mining is 4.34. The forecasts range from a low of 3.28 to a high of $5.51. The average price target represents an increase of 104.48% from its latest reported closing price of 2.12.

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The projected annual revenue for Coeur Mining is 842MM, an increase of 11.10%. The projected annual non-GAAP EPS is -0.06.

What is the Fund Sentiment?

There are 376 funds or institutions reporting positions in Coeur Mining. This is an increase of 2 owner(s) or 0.53% in the last quarter. Average portfolio weight of all funds dedicated to CDE is 0.06%, a decrease of 11.40%. Total shares owned by institutions increased in the last three months by 5.35% to 263,578K shares. The put/call ratio of CDE is 0.12, indicating a bullish outlook.

What are Other Shareholders Doing?

Van Eck Associates holds 31,040K shares representing 8.21% ownership of the company. In it’s prior filing, the firm reported owning 29,788K shares, representing an increase of 4.03%. The firm decreased its portfolio allocation in CDE by 21.85% over the last quarter.

GDX – VanEck Vectors Gold Miners ETF holds 17,544K shares representing 4.64% ownership of the company. In it’s prior filing, the firm reported owning 17,318K shares, representing an increase of 1.29%. The firm decreased its portfolio allocation in CDE by 16.16% over the last quarter.

XME – SPDR(R) S&P(R) Metals & Mining ETF holds 14,063K shares representing 3.72% ownership of the company. In it’s prior filing, the firm reported owning 15,460K shares, representing a decrease of 9.93%. The firm decreased its portfolio allocation in CDE by 19.40% over the last quarter.

GDXJ – VanEck Vectors Junior Gold Miners ETF holds 10,723K shares representing 2.84% ownership of the company. In it’s prior filing, the firm reported owning 9,668K shares, representing an increase of 9.84%. The firm decreased its portfolio allocation in CDE by 11.69% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,704K shares representing 2.30% ownership of the company. No change in 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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