Coeur Mining (NYSE:CDE) Trading Down 5.7% – Here’s Why

Coeur Mining, Inc. (NYSE:CDE)’s share price was down 5.7% during trading on Wednesday . The company traded as low as $21.58 and last traded at $22.0080. Approximately 6,172,348 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 25,039,758 shares. The stock had previously closed at $23.35.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CDE shares. Zacks Research downgraded shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. TD Securities boosted their target price on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Canaccord Genuity Group cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Coeur Mining Price Performance

The company has a market cap of $14.27 billion, a P/E ratio of 25.49 and a beta of 1.16. The company’s 50-day moving average price is $22.49 and its two-hundred day moving average price is $18.82. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The company had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.70 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 120.9% on a year-over-year basis. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors have recently made changes to their positions in the company. Triumph Capital Management lifted its holdings in shares of Coeur Mining by 300.0% during the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock worth $29,000 after buying an additional 1,200 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Coeur Mining by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 1,435 shares during the last quarter. Kingdom Financial Group LLC. bought a new stake in Coeur Mining in the fourth quarter valued at about $32,000. Kemnay Advisory Services Inc. bought a new position in Coeur Mining during the fourth quarter worth about $33,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Coeur Mining during the 4th quarter worth about $34,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.