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

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $24.57, but opened at $21.54. Coeur Mining shares last traded at $22.2980, with a volume of 5,808,643 shares.

Analyst Ratings Changes

Several research firms have issued reports on CDE. Weiss Ratings restated a “buy (b-)” rating on shares of Coeur Mining in a research note on Monday, December 29th. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a report on Monday, December 1st. Roth Mkm upped their target price on shares of Coeur Mining from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.17.

Coeur Mining Price Performance

The firm has a 50-day simple moving average of $19.07 and a 200-day simple moving average of $16.20. The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.65 billion, a P/E ratio of 32.38 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data 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). The business had revenue of $554.57 million during the quarter, compared to analyst estimates of $511.20 million. Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. As a group, analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Institutional Trading of Coeur Mining

Several large investors have recently made changes to their positions in the company. Sound Income Strategies LLC increased its holdings in shares of Coeur Mining by 99.2% during the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 996 shares during the last quarter. Savant Capital LLC raised its holdings in Coeur Mining by 2.3% during the third quarter. Savant Capital LLC now owns 46,551 shares of the basic materials company’s stock worth $873,000 after purchasing an additional 1,066 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Coeur Mining by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 65,416 shares of the basic materials company’s stock valued at $580,000 after purchasing an additional 1,183 shares during the last quarter. Zacks Investment Management boosted its stake in Coeur Mining by 0.8% during the 3rd quarter. Zacks Investment Management now owns 165,988 shares of the basic materials company’s stock worth $3,114,000 after purchasing an additional 1,246 shares during the period. Finally, Vise Technologies Inc. lifted its position in Coeur Mining by 8.3% during the 3rd quarter. Vise Technologies Inc. now owns 16,300 shares of the basic materials company’s stock worth $306,000 after acquiring an additional 1,255 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

About Coeur Mining

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.