Coeur Mining (NYSE:CDE) Downgraded to “Hold” Rating by Canaccord Genuity Group

Coeur Mining (NYSE:CDE) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Finviz reports.

A number of other research firms have also weighed in on CDE. Raymond James Financial set a $21.00 target price on shares of Coeur Mining in a report on Thursday, October 30th. TD Securities boosted their price target on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Roth Mkm reissued a “buy” rating and set a $29.00 price objective on shares of Coeur Mining in a research note on Thursday. Finally, Wall Street Zen upgraded Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $20.88.

Coeur Mining Stock Performance

Shares of CDE opened at $24.07 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.10 and a current ratio of 2.00. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 27.67 and a beta of 1.21. Coeur Mining has a 52-week low of $4.58 and a 52-week high of $27.77. The stock’s 50-day simple moving average is $20.81 and its 200 day simple moving average is $17.51.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 19.44%. The company had revenue of $674.85 million for the quarter, compared to the consensus estimate of $668.70 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 120.9% on a year-over-year basis. Research analysts forecast that Coeur Mining will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in Coeur Mining by 38.6% in the 4th quarter. Invesco Ltd. now owns 4,831,743 shares of the basic materials company’s stock worth $86,150,000 after buying an additional 1,346,322 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Coeur Mining by 16.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,512 shares of the basic materials company’s stock worth $473,000 after acquiring an additional 3,758 shares in the last quarter. Wealthspire Retirement LLC purchased a new position in shares of Coeur Mining during the fourth quarter worth approximately $187,000. Vident Advisory LLC bought a new stake in shares of Coeur Mining in the 4th quarter worth approximately $1,401,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Coeur Mining in the 4th quarter valued at $601,000. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Company Profile

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.