Coeur Mining (NYSE:CDE) Stock Rating Lowered by Zacks Research

Coeur Mining (NYSE:CDE) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC set a $23.50 price target on shares of Coeur Mining in a research note on Monday. Scotiabank lowered their price target on shares of Coeur Mining from $26.50 to $23.50 and set a “sector outperform” rating on the stock in a research report on Monday. Roth Capital set a $19.00 price objective on shares of Coeur Mining in a research note on Friday, August 7th. New Street Research set a $23.50 price objective on shares of Coeur Mining in a report on Monday. Finally, Weiss Ratings lowered shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and a consensus price target of $25.28.

Coeur Mining Stock Down 6.9%

NYSE CDE opened at $15.32 on Monday. The business has a fifty day moving average price of $17.22 and a 200 day moving average price of $18.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.60 and a current ratio of 3.79. The company has a market cap of $15.65 billion, a P/E ratio of 17.61 and a beta of 1.46. Coeur Mining has a one year low of $12.71 and a one year high of $27.77.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, November 4th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Coeur Mining had a return on equity of 8.12% and a net margin of 19.25%. The business had revenue of $983.62 million for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. Research analysts anticipate that Coeur Mining will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, EVP Casey M. Nault sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas S. Whelan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 51,000 shares of company stock valued at $1,055,070. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Coeur Mining

Several hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Coeur Mining by 92.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock worth $524,669,000 after buying an additional 13,418,041 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 34.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock valued at $241,484,000 after buying an additional 3,291,431 shares during the period. Renaissance Technologies LLC lifted its holdings in Coeur Mining by 889.6% in the first quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company’s stock valued at $128,965,000 after acquiring an additional 6,176,524 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Coeur Mining in the second quarter valued at approximately $104,760,000. Finally, Amundi grew its position in Coeur Mining by 107.0% in the first quarter. Amundi now owns 6,164,731 shares of the basic materials company’s stock worth $115,712,000 after acquiring an additional 3,186,761 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc. is a precious metals producer focused on the exploration, development and operation of mines. The company primarily produces silver and gold, with its output also including related metals. Coeur operates mines in the United States and Mexico. Its portfolio includes silver-and-gold operations as well as gold-focused mines, and the company also conducts exploration to identify and develop mineral resources. Founded in 1928, Coeur Mining is headquartered in Chicago. Mitchell J. Krebs serves as the company’s president and chief executive officer.