Coeur Mining (NYSE:CDE) Shares Down 2.8% - Here's Why

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) dropped 2.8% during mid-day trading on Wednesday . The company traded as low as $6.36 and last traded at $6.37. Approximately 2,840,853 shares were traded during trading, a decline of 85% from the average daily volume of 18,433,627 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDE shares. Cormark raised shares of Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. TD Securities initiated coverage on Coeur Mining in a research note on Tuesday, March 11th. They issued a "buy" rating and a $7.00 price target for the company. Roth Mkm lowered their price target on Coeur Mining from $8.50 to $8.25 and set a "buy" rating on the stock in a research report on Friday, February 21st. TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets initiated coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an "outperform" rating and a $9.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Buy" and an average target price of $8.05.

Coeur Mining Stock Performance

The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 51.71 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39. The firm has a 50 day moving average price of $6.17 and a 200-day moving average price of $6.37.

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Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The company had revenue of $305.40 million for the quarter, compared to the consensus estimate of $314.32 million. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $5.25 per share, with a total value of $52,500.00. Following the transaction, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

Several large investors have recently modified their holdings of CDE. GAMMA Investing LLC raised its position in Coeur Mining by 139.8% during the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company's stock worth $33,000 after buying an additional 3,359 shares during the last quarter. Quarry LP boosted its position in shares of Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after buying an additional 5,968 shares in the last quarter. Optiver Holding B.V. grew its stake in Coeur Mining by 150.5% in the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 4,903 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Coeur Mining in the fourth quarter valued at about $57,000. Finally, DRW Securities LLC purchased a new position in Coeur Mining during the fourth quarter worth $60,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.