Coeur Mining (NYSE:CDE) Shares Gap Down - Here's Why

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $7.84, but opened at $7.40. Coeur Mining shares last traded at $7.50, with a volume of 3,775,840 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CDE. Raymond James reiterated an "outperform" rating and issued a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. Roth Mkm cut their price target on shares of Coeur Mining from $8.50 to $8.25 and set a "buy" rating on the stock in a report on Friday, February 21st. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Friday, March 21st. TD Cowen upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, BMO Capital Markets initiated coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They set an "outperform" rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coeur Mining has an average rating of "Buy" and an average target price of $8.10.

Coeur Mining Stock Down 2.7%

The business's 50 day moving average is $5.84 and its 200-day moving average is $6.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 63.55 and a beta of 1.24.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The firm's revenue for the quarter was up 69.0% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. Equities analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coeur Mining news, CFO Thomas S. Whelan bought 10,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the transaction, the chief financial officer now owns 668,450 shares in the company, valued at approximately $3,509,362.50. The trade was a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company's stock.

Institutional Trading of Coeur Mining

Several institutional investors have recently made changes to their positions in the business. Merit Financial Group LLC lifted its holdings in Coeur Mining by 5.4% during the 4th quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 1,607 shares during the last quarter. City State Bank raised its stake in shares of Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after acquiring an additional 2,274 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Coeur Mining by 0.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 315,190 shares of the basic materials company's stock worth $1,803,000 after acquiring an additional 2,323 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Coeur Mining by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company's stock worth $236,000 after acquiring an additional 2,624 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Coeur Mining by 10.9% in the fourth quarter. Xponance Inc. now owns 28,712 shares of the basic materials company's stock worth $164,000 after acquiring an additional 2,811 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.