Coeur Mining (NYSE:CDE) Trading Down 4% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) traded down 4% during trading on Wednesday . The stock traded as low as $18.11 and last traded at $18.3290. 4,378,326 shares traded hands during trading, a decline of 74% from the average session volume of 16,737,043 shares. The stock had previously closed at $19.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Cormark downgraded shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Coeur Mining in a research report on Monday. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Thursday, October 30th. Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Roth Capital increased their price target on Coeur Mining from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.75.

Coeur Mining Stock Down 3.8%

The company has a quick ratio of 1.10, a current ratio of 2.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $11.80 billion, a P/E ratio of 27.74 and a beta of 1.33. The company’s 50 day moving average price is $16.78 and its two-hundred day moving average price is $14.00.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The firm had revenue of $554.57 million for the quarter, compared to the consensus estimate of $511.20 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MAI Capital Management bought a new stake in shares of Coeur Mining in the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its holdings in Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after buying an additional 1,435 shares during the period. Covestor Ltd raised its stake in Coeur Mining by 7,011.5% in the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,823 shares in the last quarter. JPL Wealth Management LLC bought a new position in Coeur Mining in the third quarter worth approximately $35,000. Finally, Luminist Capital LLC purchased a new stake in Coeur Mining during the second quarter worth $40,000. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.