Coeur Mining (NYSE:CDE) Shares Gap Down to $6.77

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $6.77, but opened at $6.63. Coeur Mining shares last traded at $6.65, with a volume of 809,333 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on CDE. Roth Capital reaffirmed a “buy” rating on shares of Coeur Mining in a research report on Tuesday, April 9th. Roth Mkm began coverage on Coeur Mining in a research report on Tuesday, April 9th. They set a “buy” rating and a $5.40 price objective for the company. National Bank Financial reaffirmed an “outperform spec market weight” rating on shares of Coeur Mining in a research report on Monday, April 8th. BMO Capital Markets upped their price objective on Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a research report on Friday. Finally, Raymond James upped their price objective on Coeur Mining from $3.75 to $4.00 and gave the stock a “market perform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.73.

Coeur Mining Stock Down 0.6 %

The firm has a market cap of $2.69 billion, a P/E ratio of -21.45 and a beta of 1.60. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $5.62 and a 200-day moving average of $4.14.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $213.10 million for the quarter, compared to analyst estimates of $203.43 million. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. Coeur Mining’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $4.86, for a total value of $213,840.00. Following the sale, the chief accounting officer now owns 140,719 shares in the company, valued at $683,894.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $4.86, for a total value of $213,840.00. Following the sale, the chief accounting officer now owns 140,719 shares in the company, valued at $683,894.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sebastian Edwards sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total value of $101,600.00. Following the transaction, the director now owns 103,100 shares in the company, valued at approximately $523,748. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

A number of large investors have recently made changes to their positions in CDE. CWM LLC grew its position in Coeur Mining by 831.5% during the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after buying an additional 4,490 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Coeur Mining during the fourth quarter worth approximately $33,000. Forum Financial Management LP acquired a new stake in Coeur Mining during the fourth quarter worth approximately $40,000. Ballentine Partners LLC acquired a new stake in Coeur Mining during the first quarter worth approximately $46,000. Finally, StoneX Group Inc. acquired a new stake in Coeur Mining during the first quarter worth approximately $49,000. Institutional investors own 63.01% of the company’s stock.

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.