Coeur Mining (NYSE:CDE) Trading Down 16.8% – What’s Next?

Shares of Coeur Mining, Inc. (NYSE:CDE) were down 16.8% during mid-day trading on Friday . The stock traded as low as $20.02 and last traded at $20.44. Approximately 46,540,429 shares traded hands during trading, an increase of 61% from the average daily volume of 28,895,430 shares. The stock had previously closed at $24.57.

Analysts Set New Price Targets

A number of research firms have weighed in on CDE. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. TD Securities boosted their price target on Coeur Mining from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Roth Mkm raised their price objective on Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.17.

Coeur Mining Trading Down 16.8%

The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 30.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.00 and a quick ratio of 1.10. The company’s fifty day moving average price is $19.07 and its 200-day moving average price is $16.20.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The company had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 76.9% on a year-over-year basis. On average, research analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds have recently made changes to their positions in CDE. EverSource Wealth Advisors LLC raised its stake in Coeur Mining by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 1,435 shares during the last quarter. Covestor Ltd raised its stake in shares of Coeur Mining by 7,011.5% in the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,823 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Coeur Mining during the third quarter worth about $35,000. Lodestone Wealth Management LLC purchased a new stake in Coeur Mining in the fourth quarter valued at approximately $36,000. Finally, Sound Income Strategies LLC boosted its position in Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 996 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.