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

Coeur Mining, Inc. (NYSE:CDE) gapped down before the market opened on Thursday . The stock had previously closed at $7.38, but opened at $6.98. Coeur Mining shares last traded at $7.09, with a volume of 1,129,020 shares.

Analyst Upgrades and Downgrades

CDE has been the subject of several research reports. Raymond James lifted their price target on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a report on Friday, September 20th. BMO Capital Markets lifted their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group increased their target price on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39. The firm has a market cap of $2.62 billion, a P/E ratio of -218.43 and a beta of 1.60. The company’s 50-day moving average is $6.57 and its two-hundred day moving average is $6.26.

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

Institutional Investors Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Coeur Mining by 248.1% in the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Coeur Mining in the second quarter valued at approximately $4,822,000. Cubist Systematic Strategies LLC acquired a new position in shares of Coeur Mining in the second quarter valued at approximately $2,382,000. Van ECK Associates Corp boosted its position in Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after buying an additional 365,115 shares during the period. Finally, U S Global Investors Inc. boosted its position in Coeur Mining by 160.4% during the 3rd quarter. U S Global Investors Inc. now owns 586,000 shares of the basic materials company’s stock worth $4,032,000 after buying an additional 361,000 shares during the period. 63.01% of the stock is owned by institutional investors.

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.