Coeur Mining (NYSE:CDE) Shares Down 4.6% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) dropped 4.6% during trading on Thursday . The company traded as low as $6.02 and last traded at $5.98. Approximately 2,931,403 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 18,927,033 shares. The stock had previously closed at $6.27.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDE. Raymond James reiterated an “outperform” rating and set a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price target for the company. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. TD Securities began coverage on Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.10.

Coeur Mining Stock Down 3.9 %

The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.85 billion, a P/E ratio of 50.21 and a beta of 1.35. The business’s 50 day moving average is $5.83 and its 200 day moving average is $6.24.

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

Insider Buying and Selling at Coeur Mining

In other news, CFO Thomas S. Whelan acquired 10,000 shares of Coeur Mining stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the purchase, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. The trade was a 1.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.56% of the company’s stock.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 3,359 shares during the last quarter. City State Bank increased its position in Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company’s stock valued at $37,000 after buying an additional 2,274 shares in the last quarter. Quarry LP raised its stake in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after buying an additional 5,968 shares during the last quarter. Optiver Holding B.V. boosted its holdings in Coeur Mining by 150.5% in the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 4,903 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Coeur Mining during the fourth quarter worth about $57,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Coeur Mining

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.