Coeur Mining (NYSE:CDE) Shares Gap Down – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.57, but opened at $6.22. Coeur Mining shares last traded at $6.30, with a volume of 946,995 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CDE shares. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Raymond James upped their price target on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. Roth Mkm reissued a “buy” rating and set a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. BMO Capital Markets lifted their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Price Performance

The company’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $6.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -207.33 and a beta of 1.65.

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 analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The business had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was up 61.1% compared to the same quarter last year. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Coeur Mining

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after buying an additional 365,115 shares during the last quarter. Tidal Investments LLC bought a new stake in Coeur Mining in the 1st quarter valued at about $41,587,000. Geode Capital Management LLC boosted its stake in Coeur Mining by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after purchasing an additional 89,863 shares during the period. American Century Companies Inc. grew its position in Coeur Mining by 248.1% in the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after purchasing an additional 72,423 shares during the period. Institutional investors 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.