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

Shares of Coeur Mining, Inc. (NYSE:CDE) gapped down before the market opened on Monday . The stock had previously closed at $6.57, but opened at $6.22. Coeur Mining shares last traded at $6.30, with a volume of 946,995 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on CDE shares. Raymond James lifted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. Roth Mkm reiterated a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. BMO Capital Markets upped their price objective on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Price Performance

The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $6.65 and a 200 day simple moving average of $6.16.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $313.50 million during the quarter, compared to the consensus estimate of $289.19 million. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The firm’s revenue was up 61.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. On average, analysts predict that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Several large investors have recently made changes to their positions in the company. Ballentine Partners LLC lifted its holdings in Coeur Mining by 18.3% in the second quarter. Ballentine Partners LLC now owns 14,435 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 2,232 shares during the period. CWM LLC lifted its stake in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 4,490 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Coeur Mining by 32.4% in the first quarter. Russell Investments Group Ltd. now owns 24,337 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 5,956 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Coeur Mining by 59.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,024 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 5,993 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Coeur Mining by 6.1% during the second quarter. Arizona State Retirement System now owns 111,585 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 6,435 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.