Coeur Mining (NYSE:CDE) Shares Gap Down – Here’s What Happened

Shares of Coeur Mining, Inc. (NYSE:CDE) gapped down prior to trading on Monday . The stock had previously closed at $17.17, but opened at $15.94. Coeur Mining shares last traded at $15.3550, with a volume of 8,089,433 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cormark cut shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. BMO Capital Markets upped their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Roth Capital set a $20.00 target price on shares of Coeur Mining and gave the company a “buy” rating in a report on Friday, October 3rd. Wall Street Zen cut shares of Coeur Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.75.

Coeur Mining Stock Performance

The stock has a market capitalization of $9.66 billion, a P/E ratio of 22.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The company’s fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $11.71.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The firm’s revenue was up 76.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, equities analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Transactions at Coeur Mining

In other Coeur Mining news, SVP Aoife Mcgrath sold 8,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total value of $93,520.00. Following the transaction, the senior vice president directly owned 203,318 shares of the company’s stock, valued at $2,376,787.42. This represents a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the transaction, the chief accounting officer owned 143,007 shares in the company, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 516,619 shares of company stock worth $6,626,362. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its position in shares of Coeur Mining by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 65,416 shares of the basic materials company’s stock worth $580,000 after purchasing an additional 1,183 shares in the last quarter. BFI Infinity Ltd. grew its position in shares of Coeur Mining by 3.2% during the 2nd quarter. BFI Infinity Ltd. now owns 43,560 shares of the basic materials company’s stock worth $386,000 after purchasing an additional 1,355 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,435 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Coeur Mining by 7.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,702 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Plancorp LLC grew its position in shares of Coeur Mining by 0.5% during the 1st quarter. Plancorp LLC now owns 300,790 shares of the basic materials company’s stock worth $1,781,000 after purchasing an additional 1,617 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Coeur Mining

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 markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.