Coeur Mining (NYSE:CDE) Stock Price Down 2.7% – Here’s What Happened
by Kim Johansen · The Markets DailyCoeur Mining, Inc. (NYSE:CDE – Get Free Report) shares traded down 2.7% on Monday . The stock traded as low as $18.48 and last traded at $18.5760. 17,635,356 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 29,369,793 shares. The stock had previously closed at $19.09.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Canaccord Genuity Group downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research downgraded shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $29.00 target price on shares of Coeur Mining in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.67.
Check Out Our Latest Analysis on CDE
Coeur Mining Price Performance
The stock has a market cap of $12.62 billion, a PE ratio of 22.60 and a beta of 1.33. 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 firm’s 50 day moving average price is $21.48 and its two-hundred day moving average price is $19.44.
Coeur Mining (NYSE:CDE – Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $674.85 million for the quarter, compared to analysts’ expectations of $668.70 million. Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. Coeur Mining’s revenue was up 120.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.
Hedge Funds Weigh In On Coeur Mining
Hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in Coeur Mining by 246.5% during the third quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company’s stock valued at $11,410,000 after acquiring an additional 432,683 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in Coeur Mining during the third quarter valued at approximately $5,768,000. Precision Wealth Strategies LLC purchased a new position in Coeur Mining during the third quarter valued at approximately $1,169,000. Allspring Global Investments Holdings LLC grew its stake in Coeur Mining by 29.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,368,071 shares of the basic materials company’s stock valued at $44,709,000 after acquiring an additional 539,615 shares in the last quarter. Finally, Sprott Inc. grew its stake in Coeur Mining by 2.0% during the third quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company’s stock valued at $172,743,000 after acquiring an additional 176,388 shares in the last quarter. Hedge funds and other institutional investors 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.