Coeur Mining (NYSE:CDE) Shares Gap Down to $6.34

Coeur Mining, Inc. (NYSE:CDE) gapped down before the market opened on Friday . The stock had previously closed at $6.34, but opened at $6.09. Coeur Mining shares last traded at $6.27, with a volume of 622,212 shares traded.

Analyst Ratings Changes

CDE has been the topic of several recent research reports. National Bank Financial reissued an “outperform spec market weight” rating on shares of Coeur Mining in a report on Monday, April 8th. Roth Mkm began coverage on Coeur Mining in a report on Tuesday, April 9th. They set a “buy” rating and a $5.40 target price on the stock. BMO Capital Markets lifted their target price on Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a report on Friday, July 12th. Raymond James lifted their target price on Coeur Mining from $5.00 to $5.75 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Roth Capital reaffirmed a “buy” rating on shares of Coeur Mining in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.03.

Coeur Mining Price Performance

The business has a 50-day moving average of $5.76 and a 200 day moving average of $4.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.43.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. The business had revenue of $213.10 million during the quarter, compared to analyst estimates of $203.43 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Analysts expect that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of Coeur Mining stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $4.86, for a total transaction of $213,840.00. Following the completion of the transaction, the chief accounting officer now owns 140,719 shares in the company, valued at approximately $683,894.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of Coeur Mining stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $4.86, for a total transaction of $213,840.00. Following the completion of the transaction, the chief accounting officer now owns 140,719 shares in the company, valued at approximately $683,894.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sebastian Edwards sold 20,000 shares of Coeur Mining stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $5.08, for a total value of $101,600.00. Following the transaction, the director now owns 103,100 shares of the company’s stock, valued at approximately $523,748. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after buying an additional 4,490 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in Coeur Mining in the fourth quarter valued at approximately $33,000. Forum Financial Management LP purchased a new position in Coeur Mining in the fourth quarter valued at approximately $40,000. Ballentine Partners LLC purchased a new position in Coeur Mining in the first quarter valued at approximately $46,000. Finally, StoneX Group Inc. purchased a new position in Coeur Mining in the first quarter valued at approximately $49,000. 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.