Coeur Mining (NYSE:CDE) Shares Gap Down – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $24.57, but opened at $21.54. Coeur Mining shares last traded at $22.2980, with a volume of 5,808,643 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Coeur Mining in a research note on Monday, December 29th. Zacks Research raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.17.

Coeur Mining Stock Down 13.5%

The stock has a 50-day moving average price of $19.07 and a 200-day moving average price of $16.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.00 and a quick ratio of 1.10. The company has a market capitalization of $13.65 billion, a P/E ratio of 32.38 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Institutional Trading of Coeur Mining

Several hedge funds have recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Coeur Mining during the 3rd quarter valued at about $35,000. Covestor Ltd increased its holdings in shares of Coeur Mining by 7,011.5% in the third 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 period. Lodestone Wealth Management LLC purchased a new position in shares of Coeur Mining in the fourth quarter worth $36,000. Sound Income Strategies LLC grew its position in shares of Coeur Mining by 99.2% in the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 996 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Coeur Mining by 121.6% during the 4th quarter. Comerica Bank now owns 2,473 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,357 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.