Vetr Inc. Lowers Coeur Mining Inc. (CDE) to Hold
Coeur Mining Inc. (NYSE:CDE) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday. They currently have a $11.10 target price on the stock. Vetr‘s price objective would indicate a potential upside of 1.28% from the company’s current price.
A number of other equities analysts have also commented on the company. Deutsche Bank AG upgraded Coeur Mining from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $7.50 to $11.00 in a research note on Monday, October 3rd. Zacks Investment Research lowered Coeur Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. CIBC upgraded Coeur Mining from a “sector underperform” rating to a “sector perform” rating in a research note on Tuesday, August 30th. Royal Bank Of Canada upgraded Coeur Mining from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 14th. Finally, Barclays PLC lifted their price objective on Coeur Mining and gave the stock an “outperform” rating in a research note on Monday, June 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Coeur Mining currently has a consensus rating of “Buy” and an average target price of $7.46.
Shares of Coeur Mining (NYSE:CDE) traded up 2.33% during mid-day trading on Thursday, hitting $10.96. The company had a trading volume of 5,900,589 shares. The firm’s market cap is $1.78 billion. The firm’s 50 day moving average is $12.83 and its 200-day moving average is $10.52. Coeur Mining has a 12-month low of $1.62 and a 12-month high of $16.41.
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Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The company earned $182 million during the quarter, compared to analysts’ expectations of $173.92 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Coeur Mining will post $0.35 EPS for the current year.
In other news, CFO Peter C. Mitchell sold 16,157 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $15.88, for a total value of $256,573.16. Following the sale, the chief financial officer now directly owns 270,260 shares in the company, valued at approximately $4,291,728.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Hans John Rasmussen sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $16.15, for a total value of $40,375.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in CDE. Van ECK Associates Corp increased its position in shares of Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares during the last quarter. Vanguard Group Inc. increased its position in Coeur Mining by 2.8% in the second quarter. Vanguard Group Inc. now owns 10,965,958 shares of the company’s stock valued at $116,897,000 after buying an additional 293,836 shares in the last quarter. GMT Capital Corp increased its position in Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock valued at $69,679,000 after buying an additional 1,258,405 shares in the last quarter. State Street Corp increased its position in Coeur Mining by 10.3% in the first quarter. State Street Corp now owns 6,231,980 shares of the company’s stock valued at $35,027,000 after buying an additional 582,163 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Coeur Mining by 16.5% in the second quarter. BlackRock Fund Advisors now owns 3,875,730 shares of the company’s stock valued at $41,315,000 after buying an additional 549,240 shares in the last quarter. Institutional investors own 69.47% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
To view Vetr’s full report, visit Vetr’s official website.
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