Coeur Mining Breaks Above 20-Day Moving Average, Analysts Predict Further Growth

Coeur Mining (CDE) has broken out above its 20-day moving average, indicating a short-term bullish trend. The stock has risen 42.5% over the past four weeks and is currently a Zacks Rank #3 (Hold) stock. Positive earnings estimate revisions have also contributed to the bullish case. Investors may want to watch CDE for more gains in the near future.

Coeur Mining (CDE) has shown significant strength in the market, breaking out above its 20-day moving average. This move indicates a short-term bullish trend for the stock. Over the past four weeks, CDE has risen by 42.5%, demonstrating robust performance. The stock is currently ranked as a Zacks Rank #3 (Hold) stock, but positive earnings estimate revisions have added to the bullish case for investors to consider.

The company reported quarterly earnings of 20 cents per share on August 6, 2024, which beat the analyst consensus estimate of 17 cents per share. Additionally, the company reported quarterly sales of $480.70 million, which exceeded the analyst consensus estimate of $447.93 million [1].

Bill Baruch, founder and president of Blue Line Capital and Blue Line Futures, noted that Coeur Mining is breaking out above its 2021 high, suggesting further upside potential. The positive earnings report and the breakout above the 20-day moving average have contributed to this bullish sentiment [1].

Investors should keep an eye on Coeur Mining for potential gains in the near future. The stock's recent performance and positive earnings reports indicate that the company is well-positioned to continue its upward trajectory.

References:
[1] https://www.benzinga.com/trading-ideas/long-ideas/25/08/47383568/apple-ftai-aviation-coeur-mining-and-an-energy-stock-cnbcs-final-trades