Coeur Mining (NYSE:CDE) Stock Price Down 4.6% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE)’s stock price fell 4.6% on Thursday . The company traded as low as $6.02 and last traded at $5.98. 2,931,403 shares were traded during mid-day trading, a decline of 85% from the average session volume of 18,927,033 shares. The stock had previously closed at $6.27.

Analyst Ratings Changes

A number of research analysts recently issued reports on CDE shares. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. TD Securities started coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price for the company. BMO Capital Markets began coverage on Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target on the stock. Raymond James reaffirmed an “outperform” rating and set a $8.50 price objective on shares of Coeur Mining in a research report on Wednesday, April 2nd. Finally, Cormark raised Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.10.

Coeur Mining Stock Performance

The business has a fifty day moving average price of $5.87 and a 200-day moving average price of $6.25. The stock has a market capitalization of $3.84 billion, a P/E ratio of 50.05 and a beta of 1.35. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The firm had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. On average, sell-side analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling at Coeur Mining

In other news, CFO Thomas S. Whelan acquired 10,000 shares of Coeur Mining stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 668,450 shares in the company, valued at $3,509,362.50. The trade was a 1.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.56% of the company’s stock.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CDE. Barclays PLC increased its holdings in Coeur Mining by 59.2% during the third quarter. Barclays PLC now owns 962,652 shares of the basic materials company’s stock valued at $6,624,000 after buying an additional 358,097 shares during the last quarter. Geode Capital Management LLC raised its holdings in Coeur Mining by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after purchasing an additional 89,863 shares during the period. Virtu Financial LLC purchased a new position in Coeur Mining during the third quarter valued at $119,000. Franklin Resources Inc. bought a new stake in Coeur Mining during the third quarter valued at about $423,000. Finally, JPMorgan Chase & Co. increased its position in Coeur Mining by 88.3% in the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after buying an additional 665,452 shares in the last quarter. Hedge funds and other institutional investors 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.