Coeur Mining (NYSE:CDE) Trading Down 9.9% – What’s Next?

Coeur Mining, Inc. (NYSE:CDE)’s share price fell 9.9% during trading on Friday . The company traded as low as $16.78 and last traded at $16.6530. 6,544,234 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 25,187,176 shares. The stock had previously closed at $18.48.

Wall Street Analyst Weigh In

A number of brokerages have commented on CDE. Roth Mkm reissued a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. ATB Cormark Capital Markets raised Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada boosted their price objective on Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Coeur Mining presently has an average rating of “Moderate Buy” and an average price target of $24.56.

Coeur Mining Price Performance

The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $18.66 and a 200 day simple moving average of $19.63. The stock has a market capitalization of $17.25 billion, a P/E ratio of 14.36 and a beta of 1.25.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business had revenue of $856.19 million during the quarter, compared to analysts’ expectations of $815.59 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Coeur Mining’s quarterly revenue was up 137.8% on a year-over-year basis. On average, analysts expect that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be paid a $0.02 dividend. This represents a dividend yield of 23.0%. The ex-dividend date is Friday, May 22nd. Coeur Mining’s payout ratio is presently 3.45%.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares in the company, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its stake in shares of Coeur Mining by 181.8% in the 1st quarter. Parallel Advisors LLC now owns 3,260 shares of the basic materials company’s stock worth $61,000 after buying an additional 2,103 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Coeur Mining in the 1st quarter worth approximately $167,000. Glenmede Trust Co. NA boosted its stake in shares of Coeur Mining by 3.8% in the 1st quarter. Glenmede Trust Co. NA now owns 48,942 shares of the basic materials company’s stock worth $919,000 after buying an additional 1,771 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Coeur Mining in the 1st quarter worth approximately $359,000. Finally, Groupe la Francaise lifted its stake in Coeur Mining by 101.8% in the first quarter. Groupe la Francaise now owns 555,000 shares of the basic materials company’s stock valued at $10,385,000 after purchasing an additional 280,000 shares during the last quarter. 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.