Coeur Mining (NYSE:CDE) Trading Down 5.7% – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s share price traded down 5.7% on Wednesday . The stock traded as low as $21.58 and last traded at $22.0080. 6,172,348 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 25,039,758 shares. The stock had previously closed at $23.35.

Wall Street Analysts Forecast Growth

CDE has been the subject of several recent research reports. Canaccord Genuity Group downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Friday, February 20th. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen upgraded Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Zacks Research lowered Coeur Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Weiss Ratings downgraded Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Coeur Mining Stock Down 5.9%

The firm has a market cap of $13.11 billion, a PE ratio of 23.47 and a beta of 1.16. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $22.66 and its 200-day moving average is $18.86.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $674.85 million for the quarter, compared to analysts’ expectations of $668.70 million. Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The company’s revenue for the quarter was up 120.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. As a group, equities research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Coeur Mining by 55.8% in the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after acquiring an additional 23,646,265 shares during the last quarter. Tidal Investments LLC increased its position in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after purchasing an additional 7,382,955 shares during the last quarter. Norges Bank purchased a new position in Coeur Mining during the fourth quarter worth approximately $128,389,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Coeur Mining by 212.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock valued at $91,446,000 after purchasing an additional 7,013,222 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Coeur Mining by 36.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after buying an additional 6,352,828 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.