Coeur Mining (NYSE:CDE) Trading Down 4.3% – Here’s Why

Shares of Coeur Mining, Inc. (NYSE:CDE) fell 4.3% during trading on Monday . The stock traded as low as $6.15 and last traded at $6.18. Approximately 1,842,740 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,906,955 shares. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDE. Roth Mkm reissued a “buy” rating and issued a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Canaccord Genuity Group increased their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets upped their price objective on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Raymond James raised their target price on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Finally, Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. The stock has a market cap of $2.48 billion, a P/E ratio of -213.26 and a beta of 1.65. The company has a 50-day simple moving average of $6.63 and a 200-day simple moving average of $6.19.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $313.50 million for the quarter, compared to the consensus estimate of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The firm’s quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 4,490 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Coeur Mining during the second quarter valued at approximately $49,000. Hohimer Wealth Management LLC acquired a new position in Coeur Mining during the second quarter valued at approximately $57,000. WINTON GROUP Ltd acquired a new position in Coeur Mining during the second quarter valued at approximately $57,000. Finally, CIBC Asset Management Inc acquired a new position in Coeur Mining during the second quarter valued at approximately $59,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.