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

Coeur Mining, Inc. (NYSE:CDE) gapped down before the market opened on Wednesday . The stock had previously closed at $21.04, but opened at $20.09. Coeur Mining shares last traded at $19.69, with a volume of 4,998,152 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDE. Canadian Imperial Bank of Commerce started coverage on Coeur Mining in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 target price for the company. Royal Bank Of Canada upped their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Canaccord Genuity Group cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Zacks Research lowered shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 22.48 and a beta of 1.16. The firm has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $19.12.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $674.85 million during the quarter, compared to analyst estimates of $668.70 million. Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business’s revenue for the quarter was up 120.9% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. As a group, analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDE. Triumph Capital Management increased its position in shares of Coeur Mining by 300.0% during the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,200 shares during the last quarter. Kingdom Financial Group LLC. acquired a new position in shares of Coeur Mining in the 4th quarter worth approximately $32,000. JPL Wealth Management LLC acquired a new position in shares of Coeur Mining in the 3rd quarter worth approximately $35,000. Covestor Ltd boosted its position in shares of Coeur Mining by 7,011.5% during the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,823 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Coeur Mining during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.