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

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.57, but opened at $6.22. Coeur Mining shares last traded at $6.30, with a volume of 946,995 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDE. Canaccord Genuity Group lifted their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Raymond James lifted their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Roth Mkm reiterated a “buy” rating and issued a $8.50 price objective (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets increased their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coeur Mining presently has an average rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Price Performance

The company has a market cap of $2.52 billion, a price-to-earnings ratio of -207.33 and a beta of 1.65. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $6.15.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $313.50 million during the quarter, compared to the consensus estimate of $289.19 million. During the same period last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 61.1% on a year-over-year basis. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Coeur Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 4,490 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Coeur Mining in the second quarter valued at $49,000. Hohimer Wealth Management LLC acquired a new position in Coeur Mining in the second quarter valued at $57,000. WINTON GROUP Ltd purchased a new position in Coeur Mining during the second quarter worth about $57,000. Finally, CIBC Asset Management Inc acquired a new stake in Coeur Mining in the 2nd quarter worth about $59,000. 63.01% of the stock is currently owned by hedge funds and other 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.