Coeur Mining (NYSE:CDE) Trading Down 5.6% – Here’s Why

Shares of Coeur Mining, Inc. (NYSE:CDE) fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $16.19 and last traded at $16.0140. 4,158,926 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 16,615,549 shares. The stock had previously closed at $16.96.

Analysts Set New Price Targets

A number of brokerages have weighed in on CDE. TD Securities boosted their target price on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Roth Capital set a $20.00 target price on Coeur Mining and gave the stock a “buy” rating in a research report on Friday, October 3rd. BMO Capital Markets upped their price target on shares of Coeur Mining from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coeur Mining in a research note on Tuesday, November 25th. Finally, Zacks Research cut shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Coeur Mining presently has a consensus rating of “Moderate Buy” and an average target price of $16.32.

Coeur Mining Price Performance

The firm’s fifty day moving average is $17.51 and its two-hundred day moving average is $13.02. The company has a market cap of $10.61 billion, a P/E ratio of 25.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61.

Coeur Mining (NYSE:CDE) last posted 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 business had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a return on equity of 17.01% and a net margin of 24.03%.The company’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coeur Mining news, CEO Mitchell J. Krebs sold 125,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the completion of the transaction, the chief executive officer owned 2,197,309 shares of the company’s stock, valued at $32,190,576.85. This represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Savant Capital LLC raised its position in shares of Coeur Mining by 2.3% during the 3rd quarter. Savant Capital LLC now owns 46,551 shares of the basic materials company’s stock valued at $873,000 after buying an additional 1,066 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Coeur Mining by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 65,416 shares of the basic materials company’s stock valued at $580,000 after acquiring an additional 1,183 shares during the last quarter. Zacks Investment Management raised its stake in shares of Coeur Mining by 0.8% in the third quarter. Zacks Investment Management now owns 165,988 shares of the basic materials company’s stock valued at $3,114,000 after acquiring an additional 1,246 shares during the period. Vise Technologies Inc. raised its stake in shares of Coeur Mining by 8.3% in the third quarter. Vise Technologies Inc. now owns 16,300 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 1,255 shares during the period. Finally, BFI Infinity Ltd. lifted its holdings in shares of Coeur Mining by 3.2% in the 2nd quarter. BFI Infinity Ltd. now owns 43,560 shares of the basic materials company’s stock worth $386,000 after acquiring an additional 1,355 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.