Coeur Mining (NYSE:CDE) Reaches New 1-Year Low – Here’s Why

Coeur Mining, Inc. (NYSE:CDE)’s stock price reached a new 52-week low on Friday. The stock traded as low as $13.33 and last traded at $13.3230, with a volume of 3,316,706 shares. The stock had previously closed at $13.88.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CDE shares. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Scotiabank cut their target price on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Roth Capital set a $19.00 target price on shares of Coeur Mining in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Coeur Mining from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.50.

Coeur Mining Stock Down 1.4%

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The company has a market capitalization of $14.07 billion, a P/E ratio of 11.70 and a beta of 1.37. The stock has a 50-day moving average price of $18.89 and a 200-day moving average price of $17.97.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. Coeur Mining’s revenue was up 125.8% compared to the same quarter last year. On average, research analysts predict that Coeur Mining, Inc. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director J. Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the sale, the director directly owned 257,333 shares of the company’s stock, valued at approximately $5,344,806.41. This represents a 8.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Casey M. Nault sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. This represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 51,000 shares of company stock worth $1,055,070. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coeur Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Coeur Mining by 83.2% during the 1st quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company’s stock worth $101,919,000 after acquiring an additional 2,466,122 shares during the period. Nykredit A S acquired a new position in shares of Coeur Mining in the 2nd quarter valued at about $2,456,000. Oakmont Investment Advisors Inc. acquired a new position in shares of Coeur Mining in the 2nd quarter valued at about $947,000. Arizona State Retirement System lifted its stake in shares of Coeur Mining by 68.1% in the 2nd quarter. Arizona State Retirement System now owns 296,611 shares of the basic materials company’s stock valued at $4,841,000 after purchasing an additional 120,212 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Coeur Mining by 529.7% during the 1st quarter. Quantinno Capital Management LP now owns 224,300 shares of the basic materials company’s stock valued at $4,210,000 after purchasing an additional 188,682 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur’s operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.