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

Coeur Mining, Inc. (NYSE:CDE) gapped down prior to trading on Wednesday . The stock had previously closed at $19.63, but opened at $18.68. Coeur Mining shares last traded at $18.2050, with a volume of 5,841,893 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDE shares. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. TD Securities upped their price target on Coeur Mining from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Raymond James Financial set a $21.00 price objective on Coeur Mining in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. Finally, Roth Capital increased their target price on shares of Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining presently has an average rating of “Buy” and an average price target of $16.75.

Coeur Mining Stock Performance

The firm has a market cap of $12.59 billion, a PE ratio of 29.71 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 2.00 and a debt-to-equity ratio of 0.11. The company has a 50-day simple moving average of $16.54 and a two-hundred day simple moving average of $14.72.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $554.57 million for the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On Coeur Mining

Several large investors have recently modified their holdings of CDE. EverSource Wealth Advisors LLC raised its holdings in shares of Coeur Mining by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,435 shares during the period. Covestor Ltd increased its position in Coeur Mining by 7,011.5% in the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,823 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Coeur Mining in the third quarter valued at $35,000. Luminist Capital LLC purchased a new position in shares of Coeur Mining during the 2nd quarter valued at $40,000. Finally, Focus Partners Wealth purchased a new position in shares of Coeur Mining during the 1st quarter valued at $60,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.