Coeur Mining (NYSE:CDE) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Coeur Mining to “Hold” from “Strong Sell,” while analysts maintain a consensus “Moderate Buy” rating and an average price target of $25.50.
• Coeur Mining shares opened at $18.52 and were reported down 4.1%; the stock has traded between $11.23 and $27.77 over the past year.
• The company missed quarterly expectations, reporting $0.12 in adjusted earnings per share versus a $0.26 consensus and revenue of $1.09 billion versus $1.24 billion expected, despite 125.8% year-over-year revenue growth.

Coeur Mining (NYSE:CDE - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on CDE. Roth Capital set a $19.00 price objective on shares of Coeur Mining in a report on Friday, August 7th. Scotiabank dropped their target price on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a report on Friday, August 7th. Wall Street Zen downgraded shares of Coeur Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Cantor Fitzgerald lowered shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 target price for the company. in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

Coeur Mining Trading Down 4.1%

Shares of NYSE:CDE opened at $18.52 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. Coeur Mining has a 1 year low of $11.23 and a 1 year high of $27.77. The company has a market cap of $19.04 billion, a P/E ratio of 15.83 and a beta of 1.32. The stock's fifty day moving average price is $16.50 and its 200-day moving average price is $18.84.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.Coeur Mining's quarterly revenue was up 125.8% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS. Sell-side analysts expect that Coeur Mining will post 0.95 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in CDE. Public Employees Retirement System of Ohio purchased a new position in shares of Coeur Mining during the second quarter valued at about $4,834,000. Parvin Asset Management LLC purchased a new position in shares of Coeur Mining in the 2nd quarter worth approximately $1,503,000. Ancora Advisors LLC purchased a new stake in Coeur Mining during the 2nd quarter valued at $26,000. Ninepoint Partners LP purchased a new stake in Coeur Mining during the 2nd quarter valued at $10,677,000. Finally, Electrum Group LLC purchased a new stake in Coeur Mining during the 2nd quarter valued at $3,269,141,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.

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