Coeur Mining (NYSE:CDE) Stock Price Down 4% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) shares were down 4% on Thursday . The company traded as low as $23.50 and last traded at $24.5840. Approximately 44,574,444 shares changed hands during trading, an increase of 59% from the average daily volume of 27,964,789 shares. The stock had previously closed at $25.62.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CDE. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Thursday, October 30th. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Zacks Research raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Raymond James Financial set a $21.00 price objective on Coeur Mining in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coeur Mining presently has an average rating of “Buy” and an average price target of $18.17.

Coeur Mining Stock Down 16.8%

The firm’s 50-day moving average price is $19.20 and its 200 day moving average price is $16.28. The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 30.97 and a beta of 1.24.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CDE. AQR Capital Management LLC boosted its position in Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock valued at $4,434,000 after buying an additional 281,489 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Coeur Mining by 122.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock valued at $14,393,000 after purchasing an additional 1,339,138 shares during the period. Focus Partners Wealth bought a new stake in Coeur Mining during the first quarter valued at $60,000. Finally, Intech Investment Management LLC grew its holdings in Coeur Mining by 58.4% during the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after acquiring an additional 99,256 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Coeur Mining

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.