Coeur Mining (NYSE:CDE) Shares Gap Down – Should You Sell?

Coeur Mining, Inc. (NYSE:CDE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.08, but opened at $6.56. Coeur Mining shares last traded at $6.43, with a volume of 7,766,142 shares traded.

Analysts Set New Price Targets

CDE has been the subject of a number of research analyst reports. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. BMO Capital Markets lifted their price target on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Raymond James raised their price objective on Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. Finally, Roth Mkm increased their price target on shares of Coeur Mining from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.83.

Coeur Mining Stock Down 9.5 %

The business’s fifty day moving average is $6.25 and its two-hundred day moving average is $5.61. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -20.68 and a beta of 1.65.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. During the same period in the previous year, the business earned ($0.06) EPS. Coeur Mining’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts forecast that Coeur Mining, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Coeur Mining by 6.5% in the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock valued at $145,616,000 after purchasing an additional 2,345,791 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Coeur Mining by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock valued at $116,885,000 after buying an additional 3,989,352 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Coeur Mining during the 1st quarter worth $41,587,000. American Century Companies Inc. grew its stake in Coeur Mining by 248.1% in the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after acquiring an additional 4,606,711 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Coeur Mining by 2.6% during the 2nd quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after acquiring an additional 72,423 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.