Coeur Mining (NYSE:CDE) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Coeur Mining (NYSE:CDE) from a hold rating to a strong sell rating in a report issued on Wednesday morning,Zacks.com reports.

CDE has been the subject of a number of other reports. BMO Capital Markets initiated coverage on shares of Coeur Mining in a report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price objective for the company. Canadian Imperial Bank of Commerce started coverage on shares of Coeur Mining in a research report on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price target on the stock. ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, March 24th. Wall Street Zen raised Coeur Mining from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of Coeur Mining in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.67.

Coeur Mining Trading Down 0.2%

NYSE CDE opened at $19.05 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.10. Coeur Mining has a 52 week low of $4.58 and a 52 week high of $27.77. The business has a 50 day moving average price of $21.75 and a 200-day moving average price of $19.37. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 21.90 and a beta of 1.33.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The firm had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.70 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Coeur Mining’s revenue for the quarter was up 120.9% on a year-over-year basis. As a group, equities analysts expect that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after buying an additional 23,646,265 shares during the period. State Street Corp raised its holdings in Coeur Mining by 6.7% during the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock valued at $432,390,000 after acquiring an additional 1,529,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock worth $447,567,000 after acquiring an additional 6,352,828 shares in the last quarter. Tidal Investments LLC lifted its position in shares of 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 acquiring an additional 7,382,955 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Coeur Mining by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after acquiring an additional 524,646 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Coeur Mining

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.