Coeur Mining (NYSE:CDE) Shares Gap Down – What’s Next?

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $24.57, but opened at $21.54. Coeur Mining shares last traded at $22.2980, with a volume of 5,808,643 shares traded.

Analyst Ratings Changes

A number of research firms have commented on CDE. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Roth Mkm upped their target price on shares of Coeur Mining from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Thursday, October 30th. Finally, Weiss Ratings downgraded shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.17.

Coeur Mining Price Performance

The company’s 50-day moving average price is $19.20 and its 200-day moving average price is $16.33. The company has a quick ratio of 1.10, a current ratio of 2.00 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 30.97 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a return on equity of 15.52% and a net margin of 24.03%.The business had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. During the same period in the previous year, the company earned $0.12 earnings per share. Coeur Mining’s quarterly revenue was up 76.9% on a year-over-year basis. On average, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in Coeur Mining by 79.0% during the 4th quarter. Jennison Associates LLC now owns 83,155 shares of the basic materials company’s stock worth $1,483,000 after purchasing an additional 36,690 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Coeur Mining by 1.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 241,033 shares of the basic materials company’s stock valued at $4,298,000 after buying an additional 2,304 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Coeur Mining during the fourth quarter worth about $181,000. M&T Bank Corp purchased a new stake in shares of Coeur Mining during the fourth quarter worth approximately $383,000. Finally, Comerica Bank raised its holdings in Coeur Mining by 121.6% in the fourth quarter. Comerica Bank now owns 2,473 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 1,357 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.