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

Shares of Coeur Mining, Inc. (NYSE:CDE - Get Free Report) gapped down prior to trading 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.

Analyst Ratings Changes

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

Coeur Mining Stock Up 1.7%

The stock has a market capitalization of $5.67 billion, a PE ratio of 34.08 and a beta of 1.30. The stock's 50-day moving average price is $7.73 and its two-hundred day moving average price is $6.63. 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 announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. During the same period in the previous year, the firm earned ($0.05) EPS. The company's quarterly revenue was up 69.0% compared to the same quarter last year. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the completion of the transaction, the chief accounting officer owned 122,104 shares in the company, valued at approximately $903,569.60. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pierre Beaudoin sold 60,551 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the sale, the director directly owned 188,362 shares in the company, valued at approximately $1,375,042.60. This represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,061 shares of company stock worth $667,775 in the last 90 days. Insiders own 1.56% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDE. MAI Capital Management bought a new stake in shares of Coeur Mining during the first quarter valued at approximately $25,000. Summer Road LLC bought a new stake in shares of Coeur Mining in the 1st quarter worth $28,000. 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 purchasing an additional 2,274 shares during the last quarter. Quarry LP lifted its holdings in shares of Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 5,968 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in shares of Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 4,903 shares in the last quarter. 63.01% of the stock is 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.