Shares of Coeur Mining, Inc. (NYSE:CDE – Get Rating) gapped down prior to trading on Friday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $3.17, but opened at $2.99. Canaccord Genuity Group now has a $3.50 price target on the stock, down from their previous price target of $3.75. Coeur Mining shares last traded at $2.92, with a volume of 85,458 shares.
A number of other equities research analysts have also recently commented on CDE. Raymond James set a $6.00 target price on Coeur Mining and gave the stock a “market perform” rating in a research note on Friday, May 6th. Canaccord Genuity Group downgraded Coeur Mining from a “buy” rating to a “hold” rating and lowered their price target for the company from $3.75 to $3.50 in a report on Friday. Finally, BMO Capital Markets lowered their price target on Coeur Mining from $4.75 to $3.75 and set a “market perform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.40.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Coeur Mining by 56.5% in the first quarter. State Street Corp now owns 27,794,163 shares of the basic materials company’s stock valued at $123,684,000 after acquiring an additional 10,035,506 shares during the period. Van ECK Associates Corp lifted its holdings in Coeur Mining by 12.2% in the second quarter. Van ECK Associates Corp now owns 26,821,281 shares of the basic materials company’s stock valued at $81,537,000 after acquiring an additional 2,909,130 shares during the period. Renaissance Technologies LLC bought a new position in Coeur Mining in the fourth quarter valued at about $9,838,000. Assenagon Asset Management SA bought a new position in Coeur Mining in the first quarter valued at about $7,723,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Coeur Mining by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,632,842 shares of the basic materials company’s stock valued at $38,416,000 after acquiring an additional 1,128,839 shares during the period. 58.12% of the stock is owned by institutional investors.
Coeur Mining Stock Performance
The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $4.03. The company has a market cap of $876.11 million, a P/E ratio of -6.24 and a beta of 1.76.
Coeur Mining (NYSE:CDE – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The basic materials company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $188.20 million during the quarter, compared to analysts’ expectations of $193.63 million. Coeur Mining had a negative return on equity of 4.91% and a negative net margin of 16.73%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post -0.03 EPS for the current year.
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 holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.
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