Coeur Mining (NYSE:CDE) Shares Gap Down – Should You Sell?

Coeur Mining, Inc. (NYSE:CDE) gapped down prior to trading on Wednesday . The stock had previously closed at $21.04, but opened at $20.09. Coeur Mining shares last traded at $19.69, with a volume of 4,998,152 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CDE shares. Royal Bank Of Canada increased their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Zacks Research cut shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Roth Mkm restated a “buy” rating and set a $29.00 price target on shares of Coeur Mining in a research report on Thursday, February 19th. Canaccord Genuity Group lowered shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Coeur Mining in a report on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

Coeur Mining Stock Down 7.1%

The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $19.12. The company has a market cap of $12.55 billion, a PE ratio of 22.48 and a beta of 1.16.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $674.85 million for the quarter, compared to analysts’ expectations of $668.70 million. Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.Coeur Mining’s quarterly revenue was up 120.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. As a group, equities research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Trading of Coeur Mining

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after purchasing an additional 23,646,265 shares in the last quarter. State Street Corp grew its position in shares of Coeur Mining by 6.7% in the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock valued at $432,390,000 after purchasing an additional 1,529,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Coeur Mining by 36.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after purchasing an additional 6,352,828 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after purchasing an additional 7,382,955 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after buying an additional 524,646 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.