Coeur Mining (CDE) Shares Down 5.5%

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Coeur Mining Inc (NYSE:CDE) shares were down 5.5% during trading on Thursday . The stock traded as low as $4.60 and last traded at $4.62. Approximately 2,661,912 shares traded hands during trading, a decline of 12% from the average daily volume of 3,038,578 shares. The stock had previously closed at $4.89.

Several research analysts recently commented on CDE shares. Zacks Investment Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Raymond James reiterated an “outperform” rating and set a $8.00 price objective on shares of Coeur Mining in a research note on Thursday, December 13th. Noble Financial set a $7.00 price objective on shares of Coeur Mining and gave the stock a “buy” rating in a research note on Wednesday, January 16th. BMO Capital Markets lowered shares of Coeur Mining from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $6.50 to $6.00 in a research note on Friday, February 22nd. Finally, B. Riley began coverage on shares of Coeur Mining in a research note on Friday, March 1st. They set a “buy” rating and a $6.25 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Coeur Mining currently has a consensus rating of “Buy” and an average price target of $7.58.

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 1.85. The company has a market cap of $967.98 million, a PE ratio of -462.00 and a beta of 0.44.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 20th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.20. Coeur Mining had a negative net margin of 7.74% and a negative return on equity of 0.22%. The business had revenue of $143.80 million for the quarter, compared to analyst estimates of $152.25 million. During the same quarter in the prior year, the business posted $0.08 EPS. Coeur Mining’s revenue for the quarter was down 33.0% compared to the same quarter last year. Research analysts forecast that Coeur Mining Inc will post 0.18 earnings per share for the current year.

In other news, SVP Hans John Rasmussen sold 7,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $4.78, for a total value of $35,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in shares of Coeur Mining by 11.5% in the 4th quarter. Amalgamated Bank now owns 25,373 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 2,627 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Coeur Mining by 5.9% in the 4th quarter. Legal & General Group Plc now owns 69,486 shares of the basic materials company’s stock valued at $310,000 after acquiring an additional 3,880 shares during the last quarter. CWM Advisors LLC boosted its holdings in shares of Coeur Mining by 25.8% in the 4th quarter. CWM Advisors LLC now owns 24,818 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 5,083 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new stake in shares of Coeur Mining in the 4th quarter valued at $27,000. Finally, CoreCommodity Management LLC boosted its holdings in shares of Coeur Mining by 126.5% in the 4th quarter. CoreCommodity Management LLC now owns 13,938 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 7,783 shares during the last quarter. 68.49% of the stock is currently owned by institutional investors and hedge funds.

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About Coeur Mining (NYSE:CDE)

Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.

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