Coeur Mining (NYSE:CDE) Trading Down 2.8% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE) shares were down 2.8% during mid-day trading on Wednesday . The stock traded as low as $6.36 and last traded at $6.37. Approximately 2,840,853 shares were traded during trading, a decline of 85% from the average daily volume of 18,433,627 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CDE shares. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. Raymond James raised shares of Coeur Mining from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $8.75 to $8.25 in a research note on Friday, February 21st. TD Securities initiated coverage on Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Roth Mkm cut their price target on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Coeur Mining presently has a consensus rating of “Buy” and an average target price of $8.05.

Coeur Mining Price Performance

The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 53.40 and a beta of 1.51. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average price is $6.17 and its 200-day moving average price is $6.35.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The company had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.32 million. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Activity at Coeur Mining

In related news, CFO Thomas S. Whelan purchased 10,000 shares of Coeur Mining stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $5.25 per share, with a total value of $52,500.00. Following the purchase, the chief financial officer now owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.56% of the stock is owned by insiders.

Institutional Trading of Coeur Mining

Several hedge funds have recently made changes to their positions in the business. Merit Financial Group LLC increased its holdings in Coeur Mining by 5.4% during the 4th quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 1,607 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Coeur Mining by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 315,190 shares of the basic materials company’s stock worth $1,803,000 after buying an additional 2,323 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Coeur Mining by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company’s stock worth $236,000 after buying an additional 2,624 shares during the period. Xponance Inc. raised its holdings in Coeur Mining by 10.9% in the fourth quarter. Xponance Inc. now owns 28,712 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 2,811 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Coeur Mining by 139.8% in the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 3,359 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Coeur Mining

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.