The stock of Coeur Mining, Inc. (NYSE:CDE) is now priced at $8.61 and the shares are 0.02 points up or 0.23% higher compared to its previous closing price of $8.59. The stock had 4.585 million contracts set over the past session. CDE shares’ daily volume is compared to its average trading volume at 8.158 million shares. However, it has a float of 240 million and although its performance was 9.82% over the week, it’s one to watch. Analysts have given the CDE stock a yearly average price target of $8.5 per share. It means the stock’s downside potential is -1.28% with the CDE share price recently placing at $8.545 to $8.97. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Coeur Mining, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CDE shares have declined. Short interest in the stock represents just 2.65% of its float, but the volume has dropped by 0.
In the last trading session, Coeur Mining, Inc. (NYSE:CDE) raised by $0.77 over the week and gained $3.15 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.25. The stock recorded its established 52-week high on 08/05/20.
Since 03/16/20, the stock has traded to a low of $1.98 at 334.85%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.03. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Coeur Mining, Inc.’s two-week RSI is 69.04. This suggests that the stock is neutral at the moment and that CDE shares’ price movement remains stable. The stochastic readings are equally revealing at 74.07% meaning the CDE share price is currently in oversold territory.
The technical chart shows that the CDE stock will likely settle at between $8.87 and $9.13 per share. However, if the stock dips below $8.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.28.
Currently, the stock is trading in the green of MACD, with a reading of 0.26. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CDE a rating of Buy in their intiating review released on July 31. Canaccord Genuity analysts upgraded their recommendation of the stock from Hold to Buy in a flash note released to investors on July 21. Canaccord Genuity seeing the stock struggling downgraded it from Buy to Hold on April 14.
The average rating for the CDE equity is 2.5 and is currently gathering a bullish momentum. Of 9 analysts tracking Coeur Mining, Inc. polled by Reuters, 5 rated CDE as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CDE stock price is 19.3X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 24.5. Coeur Mining, Inc. has its P/E ratio at 3.2, which means that the stock is currently trading at a premium relative to the 2.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Coeur Mining, Inc. (NYSE:CDE) will decrease by about -99.86%, which will see them reach $209.5 million. The company’s full-year revenues are, however, expected to increase by about 5.98%, up from $711.5 million to $754.03 million. CDE’s expected adjusted earnings should drop almost -300% to end up at $0.04 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -136% to record $0.09/share.