Coeur Mining (NYSE:CDE) Shares Down 8.7% - What's Next?

Key Points

• Coeur Mining's shares fell 8.7% on Friday, trading as low as $21.08 and experiencing a significant decline in daily trading volume.
• Analysts have varied opinions on the stock, with price targets set at $20.00 by Roth Capital, $12.00 by BMO Capital, and $22.00 by Raymond James, indicating a consensus rating of "Buy."
• Insiders have been selling shares, with over 516,619 shares sold in the last 90 days, reflecting a decrease in ownership among company leaders.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s share price dropped 8.7% during mid-day trading on Friday . The company traded as low as $21.30 and last traded at $21.08. Approximately 6,861,856 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 16,391,434 shares. The stock had previously closed at $23.10.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDE. Roth Capital set a $20.00 price target on shares of Coeur Mining and gave the company a "buy" rating in a research report on Friday, October 3rd. BMO Capital Markets increased their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial set a $22.00 target price on Coeur Mining and gave the company an "outperform" rating in a research report on Friday, October 10th. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Coeur Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $13.54.

Coeur Mining Trading Down 10.0%

The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $15.78 and a 200 day simple moving average of $10.58. The firm has a market cap of $13.37 billion, a PE ratio of 55.95 and a beta of 1.23.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The business had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same period in the prior year, the company posted ($0.01) EPS. The business's quarterly revenue was up 116.5% on a year-over-year basis. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coeur Mining news, SVP Casey M. Nault sold 102,257 shares of Coeur Mining stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the transaction, the senior vice president owned 568,623 shares of the company's stock, valued at $6,823,476. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the transaction, the chief accounting officer owned 143,007 shares in the company, valued at $1,661,741.34. This trade represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 516,619 shares of company stock worth $6,626,362 over the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Trading of Coeur Mining

A number of institutional investors have recently bought and sold shares of the company. MAI Capital Management acquired a new position in Coeur Mining in the first quarter valued at $25,000. Summer Road LLC acquired a new stake in Coeur Mining during the 1st quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock worth $30,000 after buying an additional 1,435 shares during the last quarter. Luminist Capital LLC bought a new position in Coeur Mining during the 2nd quarter worth approximately $40,000. Finally, State of Wyoming bought a new stake in shares of Coeur Mining in the 1st quarter worth approximately $52,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Company Profile

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.

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