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

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $5.92, but opened at $5.70. Coeur Mining shares last traded at $5.97, with a volume of 2,679,378 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. TD Securities began coverage on Coeur Mining in a research note on Tuesday, March 11th. They issued a “buy” rating and a $7.00 target price for the company. Roth Mkm dropped their price target on Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research report on Friday, February 21st. Raymond James reissued an “outperform” rating and issued a $8.50 price target on shares of Coeur Mining in a report on Wednesday, April 2nd. Finally, BMO Capital Markets began coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $8.10.

Coeur Mining Trading Up 0.2 %

The firm has a 50-day moving average of $5.88 and a 200 day moving average of $6.25. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 50.69 and a beta of 1.35.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in the company. NewGen Asset Management Ltd raised its stake in shares of Coeur Mining by 62.5% in the 1st quarter. NewGen Asset Management Ltd now owns 1,300,000 shares of the basic materials company’s stock worth $7,696,000 after buying an additional 500,000 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Coeur Mining by 86.0% during the first quarter. Handelsbanken Fonder AB now owns 186,326 shares of the basic materials company’s stock worth $1,103,000 after acquiring an additional 86,126 shares during the period. BFI Infinity Ltd. bought a new stake in Coeur Mining in the first quarter worth about $250,000. SG Americas Securities LLC acquired a new stake in Coeur Mining in the 1st quarter valued at about $691,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Coeur Mining in the 1st quarter valued at about $82,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.