Coeur Mining (NYSE:CDE) Shares Down 5.6% – What’s Next?

Coeur Mining, Inc. (NYSE:CDE)’s stock price was down 5.6% during mid-day trading on Tuesday . The company traded as low as $16.19 and last traded at $16.0140. Approximately 4,158,926 shares were traded during trading, a decline of 75% from the average daily volume of 16,615,549 shares. The stock had previously closed at $16.96.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Securities increased their price objective on Coeur Mining from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen downgraded Coeur Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Cormark cut shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Raymond James Financial set a $21.00 price objective on shares of Coeur Mining in a report on Thursday, October 30th. Finally, Roth Capital set a $20.00 target price on shares of Coeur Mining and gave the company a “buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.32.

Coeur Mining Stock Down 2.6%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The stock’s 50-day moving average price is $17.51 and its two-hundred day moving average price is $13.02. The stock has a market capitalization of $10.61 billion, a PE ratio of 25.02 and a beta of 1.33.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a return on equity of 17.01% and a net margin of 24.03%.The business had revenue of $554.57 million during the quarter, compared to analysts’ expectations of $511.20 million. During the same quarter last year, the company posted $0.12 EPS. Coeur Mining’s revenue for the quarter was up 76.9% compared to the same quarter last year. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mitchell J. Krebs sold 125,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,197,309 shares in the company, valued at $32,190,576.85. This trade represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.56% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management purchased a new stake in Coeur Mining during the 1st quarter valued at $25,000. Summer Road LLC bought a new position in shares of Coeur Mining during the first quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after buying an additional 1,435 shares during the last quarter. Covestor Ltd raised its position in Coeur Mining by 7,011.5% in the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,823 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Coeur Mining during the 3rd quarter valued at about $35,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.