Coeur Mining (NYSE:CDE) Stock Price Down 5.3% - Should You Sell?

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price dropped 5.3% on Tuesday . The company traded as low as $9.18 and last traded at $8.99. Approximately 774,918 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 13,175,410 shares. The stock had previously closed at $9.49.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CDE shares. TD Cowen upgraded shares of Coeur Mining to a "strong-buy" rating in a research report on Tuesday, March 11th. Raymond James Financial restated an "outperform" rating and set a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. TD Securities assumed coverage on Coeur Mining in a report on Tuesday, March 11th. They set a "buy" rating and a $7.00 price objective on the stock. Roth Capital reiterated a "buy" rating and issued a $12.00 target price (up from $10.00) on shares of Coeur Mining in a research note on Tuesday, July 1st. Finally, National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $9.21.

Coeur Mining Price Performance

The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 34.50 and a beta of 1.32. The company has a quick ratio of 0.62, a current ratio of 1.93 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $8.19 and a 200 day simple moving average of $6.77.

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

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 12,350 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the sale, the chief accounting officer directly owned 122,104 shares in the company, valued at approximately $903,569.60. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the sale, the director owned 188,362 shares in the company, valued at $1,375,042.60. This represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,061 shares of company stock worth $667,775 over the last three months. 1.56% of the stock is owned by insiders.

Institutional Trading of Coeur Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MAI Capital Management bought a new stake in Coeur Mining during the first quarter valued at $25,000. Summer Road LLC bought a new stake in Coeur Mining during the first quarter valued at $28,000. City State Bank increased its stake in Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 2,274 shares during the last quarter. Quarry LP increased its stake in 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 during the last quarter. Finally, Optiver Holding B.V. increased its stake in 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 during the last quarter. Institutional investors 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.