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

Coeur Mining, Inc. (NYSE:CDE) gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Roth Mkm cut their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. TD Securities started coverage on Coeur Mining in a report on Tuesday, March 11th. They issued a “buy” rating and a $7.00 price target for the company. Cormark raised Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. TD Cowen raised Coeur Mining to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.10.

Coeur Mining Stock Performance

The firm’s fifty day moving average is $5.92 and its 200-day moving average is $6.26. 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 $3.79 billion, a PE ratio of 49.42 and a beta of 1.35.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data 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 net margin of 5.59% and a return on equity of 6.59%. The firm had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. As a group, research analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at Coeur Mining

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $5.25 per share, with a total value of $52,500.00. Following the purchase, the chief financial officer now owns 668,450 shares in the company, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.56% of the company’s stock.

Institutional Trading of Coeur Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Coeur Mining by 139.8% in the fourth 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 in the last quarter. City State Bank grew its stake in shares of Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 2,274 shares in the last quarter. Quarry LP increased its position in shares of Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 5,968 shares during the period. Optiver Holding B.V. raised its stake in shares of 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 valued at $47,000 after acquiring an additional 4,903 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Coeur Mining in the fourth quarter valued at $57,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.