Coeur Mining (NYSE:CDE) Reaches New 1-Year Low – Here’s Why

Shares of Coeur Mining, Inc. (NYSE:CDE) hit a new 52-week low on Friday. The company traded as low as $13.33 and last traded at $13.3230, with a volume of 3,316,706 shares. The stock had previously closed at $13.88.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CDE shares. Scotiabank cut their price target on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Roth Capital set a $19.00 price objective on shares of Coeur Mining in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Coeur Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Coeur Mining Trading Down 1.4%

The business has a fifty day moving average of $18.89 and a 200-day moving average of $17.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.44 and a current ratio of 3.65. The company has a market capitalization of $14.07 billion, a P/E ratio of 11.70 and a beta of 1.37.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business’s revenue for the quarter was up 125.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. Analysts anticipate that Coeur Mining, Inc. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan sold 6,000 shares of Coeur Mining stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Casey M. Nault sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the executive vice president directly owned 540,086 shares of the company’s stock, valued at approximately $10,801,720. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 51,000 shares of company stock worth $1,055,070. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds have recently added to or reduced their stakes in CDE. ZEGA Investments LLC boosted its stake in Coeur Mining by 4.8% during the 2nd quarter. ZEGA Investments LLC now owns 10,581 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 481 shares during the last quarter. Grand Central Investment Group raised its stake in shares of Coeur Mining by 1.5% in the first quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company’s stock worth $760,000 after purchasing an additional 612 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Coeur Mining by 0.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 232,078 shares of the basic materials company’s stock worth $4,085,000 after purchasing an additional 701 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Coeur Mining by 7.5% in the first quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company’s stock worth $222,000 after purchasing an additional 820 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Coeur Mining by 105.0% in the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 820 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur’s operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.