Coeur Mining (NYSE:CDE) was downgraded by investment analysts at Roth Capital from a “neutral” rating to a “sell” rating in a research report issued on Monday, January 6th, Marketbeat Ratings reports. They presently have a $5.25 price objective on the basic materials company’s stock. Roth Capital’s target price indicates a potential downside of 24.68% from the company’s previous close.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Coeur Mining from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. ValuEngine raised Coeur Mining from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 18th. TheStreet raised Coeur Mining from a “d+” rating to a “c-” rating in a report on Tuesday, December 31st. Noble Financial reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Coeur Mining in a report on Sunday, December 15th. Finally, Raymond James set a $6.25 price objective on Coeur Mining and gave the company a “market perform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.15.
Shares of CDE stock traded up $0.01 during trading hours on Monday, hitting $6.97. 129,082 shares of the company’s stock were exchanged, compared to its average volume of 6,108,862. The stock’s 50-day moving average is $7.15 and its 200-day moving average is $5.66. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -696.50 and a beta of 0.94. Coeur Mining has a 52 week low of $2.78 and a 52 week high of $8.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.15 and a quick ratio of 0.54.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. Coeur Mining had a negative return on equity of 4.07% and a negative net margin of 10.57%. The business had revenue of $199.47 million for the quarter, compared to analysts’ expectations of $199.41 million. During the same quarter last year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. Equities research analysts forecast that Coeur Mining will post -0.19 earnings per share for the current fiscal year.
In other news, SVP Casey M. Nault sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $7.00, for a total transaction of $140,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Coeur Mining by 15.3% during the 2nd quarter. BlackRock Inc. now owns 16,253,121 shares of the basic materials company’s stock worth $70,537,000 after acquiring an additional 2,153,374 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Coeur Mining by 7.1% during the second quarter. Macquarie Group Ltd. now owns 5,265,765 shares of the basic materials company’s stock valued at $22,854,000 after purchasing an additional 347,633 shares during the period. Bank of New York Mellon Corp grew its holdings in Coeur Mining by 26.2% during the second quarter. Bank of New York Mellon Corp now owns 5,205,668 shares of the basic materials company’s stock valued at $22,592,000 after purchasing an additional 1,080,100 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Coeur Mining by 38.9% in the second quarter. Renaissance Technologies LLC now owns 3,484,428 shares of the basic materials company’s stock worth $15,122,000 after acquiring an additional 976,400 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Coeur Mining by 40.1% in the second quarter. Morgan Stanley now owns 2,898,249 shares of the basic materials company’s stock worth $12,578,000 after acquiring an additional 830,146 shares during the period. Institutional investors and hedge funds own 64.05% of the company’s stock.
About Coeur Mining
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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