Coeur Mining, Inc. (CDE) Upgraded to “Hold” by Zacks Investment Research
Coeur Mining, Inc. (NYSE:CDE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “
Other analysts have also recently issued research reports about the stock. Roth Capital set a $13.00 price objective on shares of Coeur Mining and gave the company a “buy” rating in a research note on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $11.00 price objective on shares of Coeur Mining in a research note on Friday, June 30th. UBS AG cut shares of Coeur Mining from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 7th. BidaskClub cut shares of Coeur Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Noble Financial reaffirmed a “hold” rating on shares of Coeur Mining in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Coeur Mining presently has an average rating of “Hold” and an average target price of $11.62.
Shares of Coeur Mining (NYSE:CDE) traded down 5.14% on Tuesday, hitting $9.04. 2,445,724 shares of the company were exchanged. The firm’s 50-day moving average is $9.04 and its 200-day moving average is $8.78. The stock has a market capitalization of $1.64 billion, a PE ratio of 23.48 and a beta of 0.39. Coeur Mining has a 52-week low of $7.30 and a 52-week high of $12.30.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Coeur Mining had a net margin of 9.65% and a return on equity of 10.44%. The company had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $174.70 million. During the same quarter in the prior year, the company earned $0.09 EPS. Coeur Mining’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Coeur Mining will post $0.13 earnings per share for the current year.
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In other news, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.19, for a total value of $81,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Spurbeck sold 9,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $9.25, for a total transaction of $87,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 68,610 shares of company stock valued at $602,855. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of CDE. Credit Agricole S A acquired a new position in shares of Coeur Mining in the 1st quarter worth approximately $5,077,000. Aperio Group LLC lifted its holdings in shares of Coeur Mining by 5.9% in the 2nd quarter. Aperio Group LLC now owns 44,435 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 2,482 shares during the last quarter. U S Global Investors Inc acquired a new position in shares of Coeur Mining in the 1st quarter worth approximately $808,000. Marshall Wace North America L.P. acquired a new position in shares of Coeur Mining in the 2nd quarter worth approximately $689,000. Finally, Karp Capital Management Corp acquired a new position in shares of Coeur Mining in the 1st quarter worth approximately $339,000. 68.90% of the stock is owned by institutional investors and hedge funds.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.
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