Coeur Mining Inc. (CDE) Downgraded by Vetr Inc. to “Hold”
Vetr lowered shares of Coeur Mining Inc. (NYSE:CDE) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday. They currently have $11.10 price target on the stock.
CDE has been the topic of a number of other reports. Deutsche Bank AG raised Coeur Mining from a sell rating to a hold rating and upped their price target for the stock from $7.50 to $11.00 in a research note on Monday. Zacks Investment Research downgraded Coeur Mining from a buy rating to a hold rating in a research note on Tuesday, September 27th. CIBC raised Coeur Mining from a sector underperform rating to a sector perform rating in a research note on Tuesday, August 30th. Barclays PLC upped their price target on Coeur Mining and gave the stock an outperform rating in a research note on Monday, June 27th. Finally, Royal Bank Of Canada began coverage on Coeur Mining in a research note on Tuesday, June 21st. They issued a sector perform rating and a $9.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $7.46.
Shares of Coeur Mining (NYSE:CDE) traded up 3.17% on Thursday, hitting $11.05. The stock had a trading volume of 2,159,170 shares. Coeur Mining has a 52 week low of $1.62 and a 52 week high of $16.41. The company has a 50-day moving average of $12.96 and a 200 day moving average of $10.48. The company’s market capitalization is $1.79 billion.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The business had revenue of $182 million for the quarter, compared to the consensus estimate of $173.92 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Coeur Mining will post $0.35 EPS for the current year.
In other news, CFO Peter C. Mitchell sold 16,157 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $15.88, for a total value of $256,573.16. Following the sale, the chief financial officer now directly owns 270,260 shares of the company’s stock, valued at approximately $4,291,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter C. Mitchell sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $12.55, for a total transaction of $125,500.00. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new stake in Coeur Mining during the second quarter worth about $143,000. Amalgamated Bank increased its stake in Coeur Mining by 15.4% in the second quarter. Amalgamated Bank now owns 16,847 shares of the company’s stock worth $267,000 after buying an additional 2,249 shares during the period. Legal & General Group Plc increased its stake in Coeur Mining by 16.3% in the second quarter. Legal & General Group Plc now owns 23,670 shares of the company’s stock worth $249,000 after buying an additional 3,314 shares during the period. Advisory Research Inc. bought a new stake in Coeur Mining during the second quarter worth about $1,480,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Coeur Mining by 13.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 110,210 shares of the company’s stock worth $1,175,000 after buying an additional 12,911 shares during the period. 69.47% of the stock is currently owned by institutional investors and hedge funds.
Coeur Mining Company Profile
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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