Coeur Mining (NYSE:CDE) Downgraded by Canaccord Genuity Group to “Hold”

Canaccord Genuity Group lowered shares of Coeur Mining (NYSE:CDEGet Rating) from a buy rating to a hold rating in a research note released on Friday morning, The Fly reports. Canaccord Genuity Group currently has $3.50 price target on the basic materials company’s stock, down from their prior price target of $3.75.

A number of other analysts have also issued reports on the company. Raymond James set a $6.00 target price on Coeur Mining and gave the company a market perform rating in a report on Friday, May 6th. BMO Capital Markets cut their price objective on Coeur Mining from $4.75 to $3.75 and set a market perform rating for the company in a report on Thursday. Finally, Canaccord Genuity Group lowered Coeur Mining from a buy rating to a hold rating and cut their price objective for the stock from $3.75 to $3.50 in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Coeur Mining presently has an average rating of Hold and a consensus price target of $4.40.

Coeur Mining Trading Down 1.6 %

CDE stock opened at $3.12 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $4.03. Coeur Mining has a fifty-two week low of $2.54 and a fifty-two week high of $7.64.

Coeur Mining (NYSE:CDEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $188.20 million during the quarter, compared to the consensus estimate of $193.63 million. Coeur Mining had a negative return on equity of 4.91% and a negative net margin of 16.73%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Analysts predict that Coeur Mining will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Byrne Asset Management LLC acquired a new position in shares of Coeur Mining in the first quarter valued at $39,000. Sciencast Management LP acquired a new position in Coeur Mining during the first quarter worth $47,000. CWM LLC acquired a new position in Coeur Mining during the fourth quarter worth $71,000. Shufro Rose & Co. LLC acquired a new position in Coeur Mining during the first quarter worth $67,000. Finally, StoneX Group Inc. acquired a new position in Coeur Mining during the second quarter worth $47,000. 58.12% of the stock is currently owned by institutional investors and hedge funds.

About Coeur Mining

(Get Rating)

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.

Recommended Stories

The Fly logo

Analyst Recommendations for Coeur Mining (NYSE:CDE)

Receive News & Ratings for Coeur Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coeur Mining and related companies with MarketBeat.com's FREE daily email newsletter.