Coeur Mining, Inc. (CDE) Shares Gap Down After Analyst Downgrade

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Friday after Roth Capital lowered their price target on the stock from $12.50 to $10.00. The stock had previously closed at $7.18, but opened at $7.52. Roth Capital currently has a buy rating on the stock. Coeur Mining shares last traded at $7.72, with a volume of 1,856,063 shares traded.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Coeur Mining in a report on Wednesday, September 27th. Raymond James Financial, Inc. upped their target price on Coeur Mining from $9.50 to $12.50 and gave the stock a “market perform” rating in a report on Friday, September 15th. Noble Financial reaffirmed a “hold” rating on shares of Coeur Mining in a report on Wednesday, September 13th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Coeur Mining in a report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.19.

In other Coeur Mining news, CFO Peter C. Mitchell sold 10,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $8.19, for a total value of $81,900.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Frank L. Jr. Hanagarne sold 10,310 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.29, for a total value of $95,779.90. The disclosure for this sale can be found here. Insiders sold a total of 68,610 shares of company stock worth $602,855 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDE. BlackRock Inc. grew its position in shares of Coeur Mining by 56,698.4% in the 1st quarter. BlackRock Inc. now owns 11,538,591 shares of the basic materials company’s stock valued at $93,231,000 after buying an additional 11,518,276 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Coeur Mining by 46.8% in the 2nd quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock valued at $159,688,000 after buying an additional 5,933,383 shares during the last quarter. Investec Asset Management LTD bought a new stake in shares of Coeur Mining in the 2nd quarter valued at about $28,801,000. Dimensional Fund Advisors LP grew its position in shares of Coeur Mining by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock valued at $39,939,000 after buying an additional 1,840,601 shares during the last quarter. Finally, State Street Corp grew its position in shares of Coeur Mining by 25.5% in the 1st quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock valued at $70,842,000 after buying an additional 1,780,872 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

The company has a market cap of $1.38 billion, a PE ratio of 19.82 and a beta of 0.40. The company’s 50 day moving average price is $9.07 and its 200-day moving average price is $8.82.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, October 25th. The basic materials company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.17). The company had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $185.09 million. Coeur Mining had a negative return on equity of 1.37% and a negative net margin of 2.41%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities research analysts expect that Coeur Mining, Inc. will post $0.11 earnings per share for the current fiscal year.

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Coeur Mining Company Profile

Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.

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