Coeur Mining (NYSE:CDE) Shares Gap Down - Time to Sell?

Key Points

• Coeur Mining's shares experienced a significant gap down from $18.73 to $18.08, with the last trading price at $18.88 and a total volume of 1,301,456 shares.
• Brokerages have set price targets for the stock, with National Bank and BMO Capital raising their targets to $12.00, and Roth Capital setting a price objective of $13.00, reflecting a general sentiment of a "buy" rating.
• Despite the recent dip, Coeur Mining reported a 116.5% increase in revenue year-over-year at $480.65 million and beat analysts' earnings per share estimates for the last quarter.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $18.73, but opened at $18.08. Coeur Mining shares last traded at $18.88, with a volume of 1,301,456 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDE. National Bankshares set a $12.00 price target on Coeur Mining in a report on Friday, June 13th. BMO Capital Markets upped their target price on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. Roth Capital reiterated a "buy" rating and set a $13.00 price objective on shares of Coeur Mining in a research note on Thursday, August 7th. Finally, Zacks Research upgraded Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $9.79.

Coeur Mining Stock Performance

The stock has a 50-day moving average of $12.99 and a 200-day moving average of $9.38. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 49.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61.

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

Insider Transactions at Coeur Mining

In other news, Director Pierre Beaudoin sold 48,362 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the completion of the transaction, the director owned 140,000 shares of the company's stock, valued at approximately $1,619,800. The trade was a 25.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Casey M. Nault sold 102,257 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $12.00, for a total value of $1,227,084.00. Following the completion of the transaction, the senior vice president directly owned 568,623 shares of the company's stock, valued at approximately $6,823,476. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,619 shares of company stock worth $6,626,362. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its holdings in Coeur Mining by 26.1% in the 2nd quarter. Osaic Holdings Inc. now owns 50,805 shares of the basic materials company's stock worth $450,000 after purchasing an additional 10,509 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Coeur Mining in the 2nd quarter valued at about $1,264,000. Marex Group plc bought a new stake in shares of Coeur Mining in the 2nd quarter valued at about $426,000. Hudson Bay Capital Management LP bought a new stake in shares of Coeur Mining in the 2nd quarter valued at about $1,066,000. Finally, FORA Capital LLC bought a new stake in shares of Coeur Mining in the 2nd quarter valued at about $1,395,000. 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.

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