Coeur Mining, Inc. (CDE) Rating Lowered to Strong Sell at Zacks Investment Research
Coeur Mining, Inc. (NYSE:CDE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other analysts have also recently weighed in on the company. Roth Capital set a $13.00 price target on Coeur Mining and gave the stock a “buy” rating in a report on Thursday, October 5th. Royal Bank Of Canada reiterated a “buy” rating on shares of Coeur Mining in a report on Wednesday, September 27th. Raymond James Financial, Inc. upped their target price on Coeur Mining from $9.50 to $12.50 and gave the company a “market perform” rating in a report on Friday, September 15th. Noble Financial reiterated a “hold” rating on shares of Coeur Mining in a report on Wednesday, September 13th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Coeur Mining in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.62.
Shares of Coeur Mining (NYSE:CDE) traded down 2.33% on Wednesday, hitting $8.39. 2,311,762 shares of the stock traded hands. The stock has a 50 day moving average of $9.17 and a 200-day moving average of $8.82. The stock has a market cap of $1.52 billion, a PE ratio of 21.79 and a beta of 0.40. Coeur Mining has a 1-year low of $7.30 and a 1-year high of $12.30.
Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $174.70 million. Coeur Mining had a return on equity of 10.44% and a net margin of 9.65%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. On average, equities research analysts expect that Coeur Mining will post $0.13 EPS for the current year.
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In related news, CFO Peter C. Mitchell sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $8.19, for a total value of $81,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Frank L. Jr. Hanagarne sold 28,800 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $8.50, for a total value of $244,800.00. The disclosure for this sale can be found here. Insiders sold 68,610 shares of company stock worth $602,855 over the last quarter. 1.30% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of CDE. UBS Group AG boosted its holdings in shares of Coeur Mining by 9.8% during the 1st quarter. UBS Group AG now owns 14,178 shares of the basic materials company’s stock worth $115,000 after buying an additional 1,267 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Coeur Mining by 8.5% during the 1st quarter. Teacher Retirement System of Texas now owns 14,405 shares of the basic materials company’s stock worth $116,000 after buying an additional 1,133 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Coeur Mining during the 2nd quarter worth approximately $123,000. Russell Investments Group Ltd. bought a new position in shares of Coeur Mining during the 2nd quarter worth approximately $141,000. Finally, Sigma Planning Corp bought a new position in shares of Coeur Mining during the 2nd quarter worth approximately $143,000. Hedge funds and other institutional investors own 68.90% of the company’s stock.
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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