Coeur Mining (NYSE:CDE) Stock Price Down 16.8% – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s share price dropped 16.8% during mid-day trading on Friday . The company traded as low as $20.02 and last traded at $20.44. Approximately 46,540,429 shares traded hands during mid-day trading, an increase of 61% from the average daily volume of 28,895,430 shares. The stock had previously closed at $24.57.

Analysts Set New Price Targets

A number of research firms have weighed in on CDE. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Thursday, October 30th. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Raymond James Financial set a $21.00 price objective on Coeur Mining in a report on Thursday, October 30th. Cormark cut Coeur Mining from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.17.

Coeur Mining Stock Performance

The company has a current ratio of 2.00, a quick ratio of 1.10 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $19.20 and its 200 day simple moving average is $16.33. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 30.97 and a beta of 1.24.

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

Institutional Investors Weigh In On Coeur Mining

Hedge funds have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new position in Coeur Mining in the 3rd quarter valued at about $35,000. Covestor Ltd raised its position in shares of Coeur Mining by 7,011.5% during the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,823 shares during the period. Lodestone Wealth Management LLC purchased a new stake in shares of Coeur Mining during the 4th quarter valued at approximately $36,000. Sound Income Strategies LLC lifted its holdings in Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 996 shares during the last quarter. Finally, Comerica Bank grew its position in Coeur Mining by 121.6% in the fourth quarter. Comerica Bank now owns 2,473 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,357 shares during the period. 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.