Coeur Mining (NYSE:CDE) Shares Down 6.3% - What's Next?

Key Points

• Shares fell 6.3% intraday to about $19.84 on Wednesday, with mid-day volume ~6.85 million shares—roughly 76% below the cited average daily volume.
• Coeur reported Q4 EPS of $0.35, missing estimates of $0.43 while revenue of $674.85 million beat expectations and rose 120.9% year-over-year; analysts remain mixed but the consensus rating is Moderate Buy with an average target of $24.67.
• The company has a market cap of $12.8 billion, P/E of 22.94 and low debt-to-equity (0.10), with ~63% of shares held by institutions; the stock trades near its 200-day average (~$19.52) but below its 50-day average (~$21.26).

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) were down 6.3% on Wednesday . The stock traded as low as $19.96 and last traded at $19.8420. Approximately 6,850,149 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 28,048,379 shares. The stock had previously closed at $21.17.

Analyst Upgrades and Downgrades

CDE has been the subject of several recent research reports. Canaccord Genuity Group cut Coeur Mining from a "buy" rating to a "hold" rating in a research note on Friday, February 20th. Wall Street Zen upgraded shares of Coeur Mining from a "hold" rating to a "buy" rating in a research note on Sunday, December 21st. Weiss Ratings downgraded shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 27th. Zacks Research lowered shares of Coeur Mining from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 1st. Finally, ATB Cormark Capital Markets upgraded shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Coeur Mining has an average rating of "Moderate Buy" and an average target price of $24.67.

Coeur Mining Stock Performance

The stock has a fifty day moving average price of $21.26 and a 200 day moving average price of $19.52. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 22.94 and a beta of 1.33.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The company had revenue of $674.85 million for the quarter, compared to the consensus estimate of $668.70 million. During the same period in the previous year, the company earned $0.11 EPS. The firm's revenue for the quarter was up 120.9% compared to the same quarter last year. As a group, analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Institutional Trading of Coeur Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC increased its position in Coeur Mining by 246.5% during the third quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company's stock worth $11,410,000 after acquiring an additional 432,683 shares during the period. Moody Aldrich Partners LLC bought a new position in shares of Coeur Mining in the third quarter worth about $5,768,000. Precision Wealth Strategies LLC acquired a new position in shares of Coeur Mining during the third quarter valued at $1,169,000. Allspring Global Investments Holdings LLC lifted its holdings in Coeur Mining by 29.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,368,071 shares of the basic materials company's stock valued at $44,709,000 after buying an additional 539,615 shares during the period. Finally, Sprott Inc. lifted its stake in Coeur Mining by 2.0% in the third quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company's stock valued at $172,743,000 after buying an additional 176,388 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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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