Cormark Downgrades Coeur Mining (NYSE:CDE) to Hold

Coeur Mining (NYSE:CDE) was downgraded by analysts at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets increased their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Zacks Research upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Roth Capital set a $20.00 price objective on Coeur Mining and gave the company a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, October 8th. Finally, Raymond James Financial set a $22.00 price target on Coeur Mining and gave the company an “outperform” rating in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.75.

Coeur Mining Stock Performance

Shares of Coeur Mining stock opened at $17.72 on Wednesday. Coeur Mining has a 52 week low of $4.58 and a 52 week high of $23.61. The business’s fifty day simple moving average is $17.25 and its 200-day simple moving average is $11.56. The firm has a market cap of $11.39 billion, a PE ratio of 26.84 and a beta of 1.23. 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, October 29th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The company had revenue of $554.57 million during the quarter, compared to analyst estimates of $511.20 million. During the same period in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 76.9% compared to the same quarter last year. Equities analysts forecast that Coeur Mining will post 0.58 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In related news, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction of $559,548.34. Following the sale, the director directly owned 140,000 shares in the company, valued at $1,619,800. This trade represents a 25.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Casey M. Nault sold 102,257 shares of Coeur Mining stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the sale, the senior vice president owned 568,623 shares in the company, valued at $6,823,476. This represents a 15.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 516,619 shares of company stock worth $6,626,362. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Coeur Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Coeur Mining by 57.3% during the first quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company’s stock worth $378,903,000 after purchasing an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Coeur Mining by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company’s stock worth $128,774,000 after buying an additional 4,594,097 shares during the period. Tidal Investments LLC increased its position in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after buying an additional 7,382,955 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Coeur Mining by 72.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company’s stock worth $106,801,000 after buying an additional 7,579,901 shares during the period. Finally, Geode Capital Management LLC increased its position in Coeur Mining by 2.0% during the second quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock worth $132,732,000 after buying an additional 288,626 shares during the period. Institutional investors and hedge funds 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.