Coeur Mining (NYSE:CDE) Trading Down 2.8% – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s stock price traded down 2.8% on Wednesday . The stock traded as low as $6.36 and last traded at $6.37. 2,840,853 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 18,433,627 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

CDE has been the subject of several research analyst reports. BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 target price for the company. Cormark upgraded shares of Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. Raymond James raised Coeur Mining from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $8.75 to $8.25 in a research report on Friday, February 21st. Roth Mkm decreased their target price on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, TD Securities initiated coverage on Coeur Mining in a research report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coeur Mining has a consensus rating of “Buy” and a consensus price target of $8.05.

Coeur Mining Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $4.19 billion, a P/E ratio of 54.71 and a beta of 1.51. The business’s 50 day simple moving average is $6.17 and its two-hundred day simple moving average is $6.35.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The business had revenue of $305.40 million for the quarter, compared to the consensus estimate of $314.32 million. Sell-side analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $5.25 per share, with a total value of $52,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. This trade represents a 1.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its holdings in shares of Coeur Mining by 404.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after buying an additional 4,080,600 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Coeur Mining in the fourth quarter valued at about $21,224,000. Vanguard Group Inc. boosted its position in Coeur Mining by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after purchasing an additional 3,178,785 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Coeur Mining by 12,934.3% during the 4th quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock valued at $16,998,000 after purchasing an additional 2,948,880 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Coeur Mining by 57.8% during the 4th quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock valued at $41,245,000 after purchasing an additional 2,641,310 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.