Coeur Mining (NYSE:CDE) Shares Down 9.9% – Here’s What Happened

Coeur Mining, Inc. (NYSE:CDE) fell 9.9% during mid-day trading on Friday . The company traded as low as $16.78 and last traded at $16.6530. 6,544,234 shares traded hands during trading, a decline of 74% from the average session volume of 25,187,176 shares. The stock had previously closed at $18.48.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDE. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. Canadian Imperial Bank of Commerce began coverage on shares of Coeur Mining in a research report on Tuesday, March 10th. They set an “outperform” rating and a $40.00 target price on the stock. Cantor Fitzgerald lowered shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Thursday, May 7th. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.56.

Coeur Mining Stock Performance

The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The company has a market cap of $16.83 billion, a PE ratio of 14.03 and a beta of 1.25. The stock’s 50 day simple moving average is $18.63 and its two-hundred day simple moving average is $19.60.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business’s revenue for the quarter was up 137.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. As a group, research analysts anticipate that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a yield of 23.0%. Coeur Mining’s dividend payout ratio (DPR) is currently 3.45%.

Insiders Place Their Bets

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coeur Mining

A number of large investors have recently bought and sold shares of CDE. Van ECK Associates Corp raised its stake in Coeur Mining by 55.8% during the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after purchasing an additional 23,646,265 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Coeur Mining by 92.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after acquiring an additional 13,418,041 shares during the period. Tidal Investments LLC raised its stake in shares of Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after acquiring an additional 7,382,955 shares during the period. Norges Bank purchased a new position in shares of Coeur Mining in the 4th quarter valued at $128,389,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Coeur Mining by 36.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after acquiring an additional 6,352,828 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Company Profile

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.