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

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $20.78, but opened at $19.79. Coeur Mining shares last traded at $20.5910, with a volume of 1,920,181 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDE. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank decreased their price target on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Coeur Mining Stock Performance

The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 18.31 and a beta of 1.38. The company’s fifty day simple moving average is $17.39 and its two-hundred day simple moving average is $18.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 125.8% compared to the same quarter last year. On average, analysts forecast that Coeur Mining, Inc. will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Casey M. Nault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares of the company’s stock, valued at $10,801,720. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Kenneth Thompson sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the transaction, the director owned 257,333 shares in the company, valued at $5,344,806.41. This represents a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,000 shares of company stock valued at $844,470. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Coeur Mining

Institutional investors have recently made changes to their positions in the company. ZEGA Investments LLC lifted its holdings in Coeur Mining by 4.8% during the second quarter. ZEGA Investments LLC now owns 10,581 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 481 shares during the period. Allworth Financial LP grew its position in shares of Coeur Mining by 20.9% during the 4th quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 517 shares during the period. Grand Central Investment Group increased its stake in shares of Coeur Mining by 1.5% during the 1st quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company’s stock worth $760,000 after purchasing an additional 612 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Coeur Mining by 7.5% during the 1st quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company’s stock worth $222,000 after purchasing an additional 820 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Coeur Mining by 105.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 820 shares during the period. Institutional investors own 63.01% of the company’s stock.

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.