Coeur Mining, Inc. (NYSE:CDE – Get Free Report)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $19.22, but opened at $18.08. Coeur Mining shares last traded at $18.52, with a volume of 2,913,827 shares traded.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Scotiabank dropped their price objective on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research report on Monday, September 21st. Finally, Roth Capital set a $19.00 target price on shares of Coeur Mining in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.50.
Get Our Latest Stock Report on CDE
Coeur Mining Price Performance
Coeur Mining (NYSE:CDE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 125.8% on a year-over-year basis. Sell-side analysts predict that Coeur Mining, Inc. will post 0.9 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Coeur Mining news, Director J. Kenneth Thompson sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total transaction of $519,250.00. Following the completion of the transaction, the director owned 257,333 shares of the company’s stock, valued at $5,344,806.41. The trade was a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Casey Nault sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 51,000 shares of company stock worth $1,055,070 in the last quarter. 0.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Coeur Mining by 83.2% in the first quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company’s stock worth $101,919,000 after purchasing an additional 2,466,122 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock valued at $222,922,000 after purchasing an additional 6,012,718 shares in the last quarter. Nykredit A S acquired a new stake in Coeur Mining during the second quarter valued at approximately $2,456,000. Quantinno Capital Management LP grew its stake in shares of Coeur Mining by 529.7% in the 1st quarter. Quantinno Capital Management LP now owns 224,300 shares of the basic materials company’s stock valued at $4,210,000 after purchasing an additional 188,682 shares during the period. Finally, Norges Bank bought a new stake in shares of Coeur Mining in the 4th quarter valued at approximately $128,389,000. 63.01% of the stock is owned by institutional investors.
Coeur Mining Company Profile
Coeur Mining, Inc (NYSE: CDE) is a precious metals mining company that explores for, develops, and produces gold and silver. The company’s activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.
Coeur’s operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.
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