Coeur Mining, Inc. (CDE) Downgraded by UBS AG to Market Perform
Coeur Mining, Inc. (NYSE:CDE) was downgraded by equities researchers at UBS AG from an “outperform” rating to a “market perform” rating in a report issued on Thursday.
CDE has been the topic of a number of other research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $13.00 price target on shares of Coeur Mining in a report on Thursday, August 24th. Zacks Investment Research downgraded shares of Coeur Mining from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub raised shares of Coeur Mining from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. ValuEngine downgraded shares of Coeur Mining from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Noble Financial reaffirmed a “hold” rating on shares of Coeur Mining in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.29.
Shares of Coeur Mining (CDE) traded up 0.162% on Thursday, hitting $9.255. 1,549,485 shares of the stock were exchanged. Coeur Mining has a 12 month low of $7.30 and a 12 month high of $15.35. The company has a 50-day moving average price of $8.25 and a 200 day moving average price of $8.59. The company has a market cap of $1.68 billion, a PE ratio of 24.039 and a beta of 0.47.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Coeur Mining had a net margin of 9.65% and a return on equity of 10.44%. The company had revenue of $173.40 million for the quarter, compared to the consensus estimate of $174.70 million. During the same period in the prior year, the firm posted $0.09 EPS. Coeur Mining’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts forecast that Coeur Mining will post $0.13 EPS for the current fiscal year.
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In other news, COO Frank L. Jr. Hanagarne sold 28,800 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $8.50, for a total value of $244,800.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $81,900.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Coeur Mining by 46.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock worth $159,688,000 after acquiring an additional 5,933,383 shares during the period. GMT Capital Corp raised its stake in Coeur Mining by 5.1% during the 2nd quarter. GMT Capital Corp now owns 12,348,689 shares of the basic materials company’s stock worth $96,690,000 after acquiring an additional 600,900 shares during the period. BlackRock Inc. raised its stake in Coeur Mining by 1.3% during the 2nd quarter. BlackRock Inc. now owns 11,688,139 shares of the basic materials company’s stock worth $100,285,000 after acquiring an additional 149,548 shares during the period. State Street Corp raised its stake in Coeur Mining by 25.5% during the 1st quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock worth $70,842,000 after acquiring an additional 1,780,872 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Coeur Mining by 65.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock worth $39,939,000 after acquiring an additional 1,840,601 shares during the period. Hedge funds and other institutional investors own 68.90% of the company’s stock.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.
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