Coeur Mining (NYSE:CDE) Shares Gap Down on Insider Selling

Key Points

• Coeur Mining's stock price experienced a significant decline, opening at $11.05 after closing at $11.65 due to insider selling by SVP Casey M. Nault, who sold 100,000 shares.
• Despite the dip in stock price, several analysts maintain a positive outlook, with price targets set between $12.00 and $13.00 and an overall average rating of "Buy."
• The company reported an EPS of $0.20 for the last quarter, exceeding analyst expectations and showing a 116.5% increase in revenue year-over-year.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $11.65, but opened at $11.05. Coeur Mining shares last traded at $11.35, with a volume of 2,102,339 shares traded.

Specifically, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the sale, the chief accounting officer directly owned 143,007 shares of the company's stock, valued at $1,661,741.34. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the sale, the director directly owned 140,000 shares in the company, valued at approximately $1,619,800. This trade represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, SVP Casey M. Nault sold 100,000 shares of Coeur Mining stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $10.02, for a total transaction of $1,002,000.00. Following the sale, the senior vice president directly owned 670,880 shares of the company's stock, valued at $6,722,217.60. This trade represents a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. BMO Capital Markets lifted their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research note on Friday, June 13th. Finally, Roth Capital reiterated a "buy" rating and issued a $13.00 target price on shares of Coeur Mining in a research note on Thursday, August 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Stock Down 2.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The firm's 50-day moving average is $9.46 and its two-hundred day moving average is $7.45. The stock has a market cap of $7.44 billion, a P/E ratio of 31.30 and a beta of 1.16.

Coeur Mining (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The firm had revenue of $480.65 million during the quarter, compared to analyst estimates of $438.40 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The business's quarterly revenue was up 116.5% compared to the same quarter last year. On average, equities research analysts anticipate 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 have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Coeur Mining by 150.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock valued at $1,277,000 after buying an additional 129,574 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Coeur Mining in the 1st quarter valued at $540,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Coeur Mining by 3,091.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock valued at $6,050,000 after buying an additional 989,952 shares during the period. Amalgamated Bank boosted its stake in Coeur Mining by 71.0% in the 1st quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock worth $128,000 after purchasing an additional 8,943 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Coeur Mining by 2,203.1% in the 4th quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company's stock worth $1,332,000 after purchasing an additional 222,803 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

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.