Coeur Mining (NYSE:CDE) Shares Gap Down - Should You Sell?

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $9.05, but opened at $8.68. Coeur Mining shares last traded at $8.70, with a volume of 2,351,206 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Securities assumed coverage on Coeur Mining in a research report on Tuesday, March 11th. They issued a "buy" rating and a $7.00 price objective on the stock. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a report on Friday, June 13th. TD Cowen raised shares of Coeur Mining to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Raymond James Financial restated an "outperform" rating and issued a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $8.75.

Coeur Mining Price Performance

The firm has a market capitalization of $5.55 billion, a P/E ratio of 33.37 and a beta of 1.31. The firm has a 50-day moving average of $7.68 and a 200-day moving average of $6.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. The firm's revenue for the quarter was up 69.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In other news, CAO Kenneth J. Watkinson sold 12,350 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the sale, the chief accounting officer now directly owns 122,104 shares in the company, valued at $903,569.60. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the transaction, the director now directly owns 188,362 shares of the company's stock, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,061 shares of company stock valued at $667,775. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Coeur Mining by 57.3% in the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after acquiring an additional 23,303,638 shares during the last quarter. Sprott Inc. boosted its position in shares of Coeur Mining by 889.3% during the first quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after buying an additional 10,180,102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Coeur Mining by 72.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock valued at $106,801,000 after buying an additional 7,579,901 shares during the last quarter. Pale Fire Capital SE bought a new position in shares of Coeur Mining during the first quarter valued at approximately $29,143,000. Finally, Nuveen LLC purchased a new position in Coeur Mining during the 1st quarter valued at $27,519,000. 63.01% of the stock is owned by 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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