Coeur Mining (NYSE:CDE) Trading Down 8.4% on Analyst Downgrade

Coeur Mining, Inc. (NYSE:CDE) dropped 8.4% on Friday after Roth Mkm lowered their price target on the stock from $8.50 to $8.25. Roth Mkm currently has a buy rating on the stock. Coeur Mining traded as low as $5.70 and last traded at $5.59. Approximately 4,192,441 shares changed hands during trading, a decline of 75% from the average daily volume of 16,509,152 shares. The stock had previously closed at $6.10.

CDE has been the topic of a number of other reports. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Cormark raised Coeur Mining to a “moderate buy” rating in a research note on Thursday. BMO Capital Markets assumed coverage on Coeur Mining in a research note on Tuesday. They issued an “outperform” rating and a $9.00 price target on the stock. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Raymond James raised Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $8.75 to $8.25 in a research note on Friday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $8.31.

Hedge Funds Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently bought and sold shares of CDE. Two Sigma Advisers LP grew its stake in Coeur Mining by 404.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after acquiring an additional 4,080,600 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Coeur Mining during the 4th quarter valued at about $21,224,000. Vanguard Group Inc. grew its stake in Coeur Mining by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock valued at $232,805,000 after acquiring an additional 3,178,785 shares in the last quarter. Marshall Wace LLP grew its stake in Coeur Mining by 12,934.3% during the 4th quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock valued at $16,998,000 after acquiring an additional 2,948,880 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Coeur Mining by 57.8% during the 4th quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock valued at $41,245,000 after acquiring an additional 2,641,310 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Trading Down 10.7 %

The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 45.38 and a beta of 1.59. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.39.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.71% and a net margin of 5.59%. The business had revenue of $305.40 million during the quarter, compared to analyst estimates of $314.32 million. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.