Coeur Mining (CDE) Bond Prices Fall 2.1%

An issue of Coeur Mining Inc (NYSE:CDE) bonds fell 2.1% against their face value during trading on Monday. The high-yield issue of debt has a 5.875% coupon and will mature on June 1, 2024. The debt is now trading at $96.38. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

A number of brokerages recently weighed in on CDE. Noble Financial reiterated a “hold” rating on shares of Coeur Mining in a research note on Tuesday, July 10th. Raymond James reiterated an “outperform” rating and set a $10.00 price target on shares of Coeur Mining in a research note on Tuesday, July 10th. ValuEngine cut shares of Coeur Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. BMO Capital Markets increased their price target on shares of Coeur Mining from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $10.75 price target on shares of Coeur Mining in a research note on Friday, July 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.71.

NYSE:CDE traded up $0.17 during trading hours on Monday, reaching $5.64. 2,848,400 shares of the company’s stock were exchanged, compared to its average volume of 2,982,497. The stock has a market cap of $1.06 billion, a P/E ratio of 282.00 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.23 and a quick ratio of 1.25. Coeur Mining Inc has a 1-year low of $5.18 and a 1-year high of $9.87.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Coeur Mining had a negative net margin of 0.67% and a negative return on equity of 0.32%. The company had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $174.67 million. During the same quarter last year, the business earned ($0.01) EPS. The business’s revenue was up 6.3% on a year-over-year basis. sell-side analysts expect that Coeur Mining Inc will post -0.03 EPS for the current fiscal year.

In other news, CFO Peter C. Mitchell sold 20,000 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $7.03, for a total value of $140,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mitchell J. Krebs bought 10,000 shares of Coeur Mining stock in a transaction dated Friday, August 3rd. The stock was purchased at an average price of $6.61 per share, with a total value of $66,100.00. The disclosure for this purchase can be found here. 1.32% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CDE. Dimensional Fund Advisors LP lifted its stake in shares of Coeur Mining by 26.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,330,067 shares of the basic materials company’s stock worth $82,641,000 after acquiring an additional 2,162,870 shares during the period. Van ECK Associates Corp increased its holdings in shares of Coeur Mining by 6.6% in the 2nd quarter. Van ECK Associates Corp now owns 21,000,231 shares of the basic materials company’s stock valued at $159,602,000 after purchasing an additional 1,300,391 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Coeur Mining by 130.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,079,696 shares of the basic materials company’s stock valued at $15,805,000 after purchasing an additional 1,176,642 shares in the last quarter. Sentry Investments Corp. increased its holdings in shares of Coeur Mining by 432.5% in the 1st quarter. Sentry Investments Corp. now owns 1,065,000 shares of the basic materials company’s stock valued at $8,520,000 after purchasing an additional 865,000 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Coeur Mining by 4.8% in the 2nd quarter. BlackRock Inc. now owns 12,570,332 shares of the basic materials company’s stock valued at $95,535,000 after purchasing an additional 577,792 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.

About Coeur Mining (NYSE:CDE)

Coeur Mining, Inc owns, operates, explores for, and develops silver and gold properties. It holds interests in the Palmarejo silver-gold complex located in Mexico; the Silvertip silver-zinc-lead mine located in British Columbia; the Rochester silver-gold mine located in Nevada; the Kensington gold mine located in Alaska; and the Wharf gold mine located in South Dakota.

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