Coeur Mining (NYSE:CDE) Trading Down 8.4% on Analyst Downgrade

Coeur Mining, Inc. (NYSE:CDE) shares dropped 8.4% on Friday after Roth Mkm lowered their price target on the stock from $8.50 to $8.25. Roth Mkm currently has a buy rating on the stock. Coeur Mining traded as low as $5.70 and last traded at $5.59. Approximately 4,192,441 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 16,509,152 shares. The stock had previously closed at $6.10.

Other research analysts have also issued reports about the company. BMO Capital Markets started coverage on Coeur Mining in a report on Tuesday. They set an “outperform” rating and a $9.00 price target for the company. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $8.75 to $8.25 in a research report on Friday. Cormark upgraded Coeur Mining to a “moderate buy” rating in a research report on Thursday. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $8.31.

Institutional Trading of Coeur Mining

Large investors have recently bought and sold shares of the stock. Jennison Associates LLC bought a new stake in Coeur Mining in the third quarter valued at $579,000. JPMorgan Chase & Co. boosted its stake in Coeur Mining by 88.3% in the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after purchasing an additional 665,452 shares in the last quarter. XTX Topco Ltd acquired a new position in Coeur Mining in the third quarter worth $1,311,000. Van ECK Associates Corp boosted its stake in Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after purchasing an additional 365,115 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Coeur Mining by 180.7% in the third quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock worth $2,137,000 after purchasing an additional 199,919 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Trading Down 10.7 %

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 company has a market cap of $2.17 billion, a price-to-earnings ratio of 45.38 and a beta of 1.59. The business has a 50 day simple moving average of $6.33 and a 200 day simple moving average of $6.39.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.71% and a net margin of 5.59%. The business had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. As a group, equities analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

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.