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

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

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

Coeur Mining Stock Down 6.9%

Shares of Coeur Mining stock opened at $15.32 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.79 and a quick ratio of 2.60. Coeur Mining has a 1 year low of $12.71 and a 1 year high of $27.77. The firm’s 50-day moving average is $17.22 and its two-hundred day moving average is $18.68. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 17.61 and a beta of 1.46.

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

Insider Activity

In related news, Director J. Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total transaction of $519,250.00. Following the transaction, the director directly owned 257,333 shares of the company’s stock, valued at $5,344,806.41. This represents a 8.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Casey M. Nault sold 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $21.06, for a total value of $210,600.00. Following the completion of the sale, the executive vice president owned 530,086 shares of the company’s stock, valued at approximately $11,163,611.16. This trade represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 51,000 shares of company stock worth $1,055,070. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. increased its stake in Coeur Mining by 17.2% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 677,415 shares of the basic materials company’s stock valued at $11,923,000 after purchasing an additional 99,456 shares in the last quarter. Westpac Banking Corp acquired a new stake in shares of Coeur Mining during the third quarter worth $85,000. Private Advisor Group LLC grew its holdings in shares of Coeur Mining by 72.1% during the third quarter. Private Advisor Group LLC now owns 18,283 shares of the basic materials company’s stock valued at $322,000 after buying an additional 7,657 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Coeur Mining during the third quarter valued at $7,149,000. Finally, Focus Advisor Solutions LLC acquired a new position in shares of Coeur Mining in the 3rd quarter valued at $1,426,000. Institutional investors and hedge funds 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.