Scotiabank Has Lowered Expectations for Coeur Mining (NYSE:CDE) Stock Price

Coeur Mining (NYSE:CDE) had its price target decreased by Scotiabank from $26.50 to $23.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank‘s target price suggests a potential upside of 43.14% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CDE. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings cut Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Roth Capital set a $19.00 price objective on Coeur Mining in a report on Friday, August 7th. New Street Research set a $23.50 price objective on Coeur Mining in a report on Monday. Finally, Needham & Company LLC set a $23.50 target price on shares of Coeur Mining in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.25.

Coeur Mining Stock Performance

NYSE CDE traded up $0.95 during trading hours on Monday, hitting $16.42. The company had a trading volume of 6,483,642 shares, compared to its average volume of 31,439,346. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.60 and a current ratio of 3.79. Coeur Mining has a 1-year low of $12.71 and a 1-year high of $27.77. The company has a market cap of $16.78 billion, a PE ratio of 18.89 and a beta of 1.46. The business has a 50 day moving average of $17.43 and a 200-day moving average of $18.76.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data 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 firm had revenue of $983.62 million for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, equities research analysts expect that Coeur Mining will post 0.78 EPS for the current year.

Insider Activity at Coeur Mining

In other Coeur Mining news, Director J. Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total transaction of $519,250.00. Following the completion of the transaction, the director owned 257,333 shares in the company, valued at approximately $5,344,806.41. This represents a 8.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas S. Whelan sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,000 shares of company stock worth $1,055,070 in the last three months. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CDE. Danske Bank A S lifted its position in Coeur Mining by 26.3% in the third quarter. Danske Bank A S now owns 523,200 shares of the basic materials company’s stock valued at $9,208,000 after purchasing an additional 108,800 shares during the period. Aberdeen Group plc increased its position in Coeur Mining by 54.0% during the 3rd quarter. Aberdeen Group plc now owns 26,253 shares of the basic materials company’s stock worth $462,000 after purchasing an additional 9,208 shares during the period. Maryland State Retirement & Pension System increased its position in Coeur Mining by 11.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 61,419 shares of the basic materials company’s stock worth $1,081,000 after purchasing an additional 6,267 shares during the period. Jacobi Capital Management LLC acquired a new position in Coeur Mining during the 3rd quarter worth approximately $52,000. Finally, Lido Advisors LLC increased its position in Coeur Mining by 124.1% during the 3rd quarter. Lido Advisors LLC now owns 27,985 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 15,495 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.