Coeur Mining (NYSE:CDE) Cut to “Strong Sell” at Zacks Research

Coeur Mining (NYSE:CDE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities analysts have also weighed in on the stock. New Street Research set a $23.50 target price on shares of Coeur Mining in a report on Monday. Scotiabank decreased their target price on shares of Coeur Mining from $26.50 to $23.50 and set a “sector outperform” rating for the company in a research note on Monday. Needham & Company LLC set a $23.50 price target on shares of Coeur Mining in a report on Monday. Weiss Ratings downgraded shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Finally, Roth Capital set a $19.00 price target on shares of Coeur Mining in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.28.

Coeur Mining Stock Down 6.9%

Shares of CDE opened at $15.32 on Monday. Coeur Mining has a 52 week low of $12.71 and a 52 week high of $27.77. The company has a quick ratio of 2.60, a current ratio of 3.79 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 17.61 and a beta of 1.46. The stock’s 50-day moving average price is $17.22 and its 200-day moving average price is $18.68.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Coeur Mining had a net margin of 19.25% and a return on equity of 8.12%. The company had revenue of $983.62 million for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The firm’s revenue was up 77.4% compared to the same quarter last year. On average, sell-side analysts predict that Coeur Mining will post 0.77 EPS for the current year.

Insider Transactions at Coeur Mining

In other news, EVP Casey 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 transaction of $200,000.00. Following the transaction, the executive vice president owned 540,086 shares in the company, valued at $10,801,720. This trade represents a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Whelan sold 6,000 shares of Coeur Mining stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The SEC filing for this sale provides additional information. Insiders sold a total of 51,000 shares of company stock valued at $1,055,070 in the last three months. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Coeur Mining

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Coeur Mining by 92.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock worth $524,669,000 after purchasing an additional 13,418,041 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Coeur Mining in the 2nd quarter worth about $104,760,000. Renaissance Technologies LLC boosted its holdings in Coeur Mining by 889.6% in the 1st quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company’s stock worth $128,965,000 after buying an additional 6,176,524 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Coeur Mining by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock worth $241,484,000 after buying an additional 3,291,431 shares during the last quarter. Finally, Amundi increased its stake in Coeur Mining by 107.0% during the 1st quarter. Amundi now owns 6,164,731 shares of the basic materials company’s stock worth $115,712,000 after buying an additional 3,186,761 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc. is a precious metals producer focused on the exploration, development and operation of mines. The company primarily produces silver and gold, with its output also including related metals. Coeur operates mines in the United States and Mexico. Its portfolio includes silver-and-gold operations as well as gold-focused mines, and the company also conducts exploration to identify and develop mineral resources. Founded in 1928, Coeur Mining is headquartered in Chicago. Mitchell J. Krebs serves as the company’s president and chief executive officer.