Zacks Investment Research Lowers Coeur Mining (CDE) to Strong Sell

Zacks Investment Research lowered shares of Coeur Mining (NYSE:CDE) from a hold rating to a strong sell rating in a research note released on Thursday morning.

According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “

A number of other research analysts also recently issued reports on the stock. Noble Financial restated a buy rating and issued a $8.00 price target on shares of Coeur Mining in a research report on Friday, August 31st. ValuEngine upgraded shares of Coeur Mining from a strong sell rating to a sell rating in a research report on Tuesday, October 2nd. BMO Capital Markets dropped their price target on shares of Coeur Mining from $10.50 to $9.00 and set an outperform rating on the stock in a research report on Wednesday, October 10th. Roth Capital upgraded shares of Coeur Mining from a neutral rating to a buy rating and set a $9.00 price target on the stock in a research report on Tuesday, July 10th. Finally, Canaccord Genuity restated a buy rating and issued a $10.75 price target on shares of Coeur Mining in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $8.96.

Shares of NYSE CDE traded up $0.08 during midday trading on Thursday, reaching $5.24. The stock had a trading volume of 17,520 shares, compared to its average volume of 3,193,382. The company has a market capitalization of $1.03 billion, a P/E ratio of 262.50 and a beta of 0.74. Coeur Mining has a twelve month low of $4.46 and a twelve month high of $8.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.96.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, October 31st. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $151.15 million. Coeur Mining had a negative return on equity of 0.47% and a negative net margin of 5.92%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Analysts forecast that Coeur Mining will post -0.09 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in shares of Coeur Mining in the 1st quarter valued at $102,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Coeur Mining in the 1st quarter valued at $117,000. Stevens Capital Management LP increased its stake in shares of Coeur Mining by 60.9% in the 2nd quarter. Stevens Capital Management LP now owns 30,207 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 11,430 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Coeur Mining by 37.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 30,329 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Coeur Mining in the 2nd quarter valued at $337,000. Institutional investors own 66.43% of the company’s stock.

About Coeur Mining

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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