Coeur Mining Inc. (CDE) Lowered to Hold at Zacks Investment Research
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
Other equities research analysts have also recently issued research reports about the stock. Roth Capital reaffirmed a buy rating on shares of Coeur Mining in a research note on Monday, June 27th. Barclays PLC upped their price objective on shares of Coeur Mining and gave the company an outperform rating in a research note on Monday, June 27th. Royal Bank Of Canada raised shares of Coeur Mining from a sector perform rating to an outperform rating in a research note on Thursday, July 14th. Raymond James Financial Inc. raised shares of Coeur Mining from a market perform rating to an outperform rating in a research note on Monday, June 27th. Finally, CIBC raised shares of Coeur Mining from a sector underperform rating to a sector perform rating in a research note on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $6.05.
Shares of Coeur Mining (NYSE:CDE) opened at 11.88 on Tuesday. Coeur Mining has a 1-year low of $1.62 and a 1-year high of $16.41. The firm has a 50-day moving average of $13.83 and a 200 day moving average of $10.24. The company’s market capitalization is $1.93 billion.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. Coeur Mining had a negative net margin of 49.17% and a negative return on equity of 8.38%. The company earned $182 million during the quarter, compared to analysts’ expectations of $173.92 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Coeur Mining will post $0.32 earnings per share for the current year.
In related news, Director J Kenneth Thompson sold 7,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $15.52, for a total value of $116,400.00. Following the completion of the transaction, the director now directly owns 85,788 shares in the company, valued at approximately $1,331,429.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Hans John Rasmussen sold 3,477 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $15.00, for a total transaction of $52,155.00. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CDE. Societe Generale purchased a new stake in Coeur Mining during the second quarter worth $106,000. SG Americas Securities LLC purchased a new stake in Coeur Mining during the second quarter worth $106,000. Nuveen Asset Management LLC purchased a new stake in Coeur Mining during the second quarter worth $108,000. Ameritas Investment Partners Inc. raised its stake in Coeur Mining by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 11,907 shares of the company’s stock worth $127,000 after buying an additional 1,415 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in Coeur Mining during the second quarter worth $130,000. Institutional investors own 69.47% of the company’s stock.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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