Coeur Mining (NYSE:CDE) Stock Price Down 8.4% After 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.

CDE has been the topic of several other reports. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $8.75 to $8.25 in a research note on Friday. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. BMO Capital Markets began coverage on Coeur Mining in a research note on Tuesday. They issued an “outperform” rating and a $9.00 price target for the company. Finally, Cormark raised shares of Coeur Mining to a “moderate buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coeur Mining currently has an average rating of “Buy” and a consensus target price of $8.31.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CDE. GAMMA Investing LLC grew its holdings in Coeur Mining by 139.8% during the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 3,359 shares during the period. Quarry LP grew its holdings in Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 5,968 shares during the period. Optiver Holding B.V. grew its holdings in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 4,903 shares during the period. FNY Investment Advisers LLC acquired a new stake in Coeur Mining during the fourth quarter worth about $57,000. Finally, DRW Securities LLC acquired a new stake in Coeur Mining during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. The firm’s 50 day moving average is $6.33 and its 200-day moving average is $6.39. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 45.71 and a beta of 1.59.

Coeur Mining (NYSE:CDE) last posted its 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 net margin of 5.59% and a return on equity of 6.71%. The firm had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.32 million. Analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal 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.