Coeur Mining (NYSE:CDE) Shares Gap Down on Insider Selling

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $11.65, but opened at $11.05. Coeur Mining shares last traded at $11.35, with a volume of 2,102,339 shares trading hands.

Specifically, CAO Kenneth J. Watkinson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the sale, the chief accounting officer directly owned 143,007 shares in the company, valued at $1,661,741.34. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the sale, the director owned 140,000 shares of the company’s stock, valued at $1,619,800. The trade was a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, SVP Casey M. Nault sold 100,000 shares of Coeur Mining stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $10.02, for a total transaction of $1,002,000.00. Following the completion of the sale, the senior vice president directly owned 670,880 shares in the company, valued at approximately $6,722,217.60. The trade was a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several research firms have recently commented on CDE. National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Thursday, June 12th. BMO Capital Markets lifted their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a research note on Friday, June 13th. Finally, Roth Capital reiterated a “buy” rating and set a $13.00 price objective on shares of Coeur Mining in a research note on Thursday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.79.

Coeur Mining Stock Down 0.4%

The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 31.36 and a beta of 1.16. The business’s 50-day moving average is $9.30 and its 200-day moving average is $7.35. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The firm’s quarterly revenue was up 116.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its position in Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company’s stock valued at $1,277,000 after purchasing an additional 129,574 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Coeur Mining in the first quarter valued at $540,000. Allspring Global Investments Holdings LLC increased its holdings in Coeur Mining by 3,091.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company’s stock valued at $6,050,000 after buying an additional 989,952 shares in the last quarter. Amalgamated Bank increased its holdings in Coeur Mining by 71.0% in the first quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company’s stock valued at $128,000 after buying an additional 8,943 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Coeur Mining by 2,203.1% in the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company’s stock valued at $1,332,000 after buying an additional 222,803 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Coeur Mining

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.