Coeur Mining (NYSE:CDE) Shares Gap Down - What's Next?

Key Points

• Coeur Mining's stock price gapped down significantly from $22.03 to $18.99 before trading on Tuesday, with its last traded price at $18.43 and a trading volume of over 6.4 million shares.
• A variety of analysts have recently issued ratings and price targets for Coeur Mining, with Zacks Research upgrading it to a "strong-buy" and Roth Capital setting a target of $20.00.
• The company reported a 14.8% decline in stock value, while its quarterly revenue soared 116.5% year-over-year, indicating resilience amid market fluctuations.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $22.03, but opened at $18.99. Coeur Mining shares last traded at $18.43, with a volume of 6,436,539 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on CDE shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a report on Wednesday, October 8th. Zacks Research upgraded shares of Coeur Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Roth Capital set a $20.00 price objective on shares of Coeur Mining and gave the stock a "buy" rating in a research note on Friday, October 3rd. 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. Finally, Raymond James Financial set a $22.00 price target on Coeur Mining and gave the stock an "outperform" rating in a research report on Friday, October 10th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Buy" and an average target price of $13.54.

Coeur Mining Stock Down 14.8%

The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 50.79 and a beta of 1.23. 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 simple moving average is $16.17 and its two-hundred day simple moving average is $10.87.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $480.65 million for the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. Coeur Mining's quarterly revenue was up 116.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share. On average, sell-side 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, SVP Aoife Mcgrath sold 8,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the sale, the senior vice president directly owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. The trade was a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.62, for a total transaction of $92,960.00. Following the transaction, the chief accounting officer owned 143,007 shares in the company, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 516,619 shares of company stock worth $6,626,362. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently modified their holdings of CDE. Range Financial Group LLC bought a new position in Coeur Mining in the second quarter valued at approximately $1,115,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock worth $1,277,000 after purchasing an additional 129,574 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Coeur Mining in the first quarter valued at about $540,000. Allspring Global Investments Holdings LLC increased its holdings in Coeur Mining by 3,091.5% in the first 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 purchasing an additional 989,952 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Coeur Mining by 17,945.6% in the second quarter. Farther Finance Advisors LLC now owns 32,843 shares of the basic materials company's stock valued at $291,000 after buying an additional 32,661 shares during the period. 63.01% of the stock is owned by institutional investors.

About Coeur Mining

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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