Coeur Mining (NYSE:CDE) Trading Down 2.6% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) shares were down 2.6% during mid-day trading on Monday . The stock traded as low as $25.27 and last traded at $25.44. 39,165,274 shares changed hands during mid-day trading, an increase of 49% from the average session volume of 26,319,035 shares. The stock had previously closed at $26.11.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CDE shares. Zacks Research upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. Roth Mkm upped their price objective on Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, December 15th. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $18.17.

Coeur Mining Trading Down 2.6%

The firm has a market capitalization of $16.34 billion, a P/E ratio of 38.55 and a beta of 1.24. 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 stock has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $15.96.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share (EPS) 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 analysts’ expectations of $511.20 million. Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The business’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. On average, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently modified their holdings of CDE. Van ECK Associates Corp lifted its position in Coeur Mining by 55.8% during the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock valued at $1,238,201,000 after purchasing an additional 23,646,265 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Coeur Mining by 36.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock worth $447,567,000 after buying an additional 6,352,828 shares during the period. Tidal Investments LLC lifted its position in shares of Coeur Mining by 55.3% during the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after buying an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Coeur Mining by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock valued at $132,732,000 after buying an additional 288,626 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Coeur Mining by 38.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock valued at $268,329,000 after acquiring an additional 3,982,085 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.