Coeur Mining (NYSE:CDE) Trading Down 5.3% - Here's What Happened

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

Analysts Set New Price Targets

CDE has been the topic of several recent research reports. Roth Capital reiterated a "buy" rating and set a $12.00 target price (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. National Bankshares set a $12.00 target price on shares of Coeur Mining in a report on Friday, June 13th. Raymond James Financial reiterated an "outperform" rating and set a $8.50 target price on shares of Coeur Mining in a report on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Coeur Mining presently has an average rating of "Buy" and an average target price of $9.21.

Coeur Mining Stock Down 0.9%

The firm has a market capitalization of $5.68 billion, a P/E ratio of 34.17 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93. The business's fifty day moving average price is $8.26 and its two-hundred day moving average price is $6.78.

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, beating 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%. The firm's quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. Equities analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coeur Mining news, Director Eduardo Luna sold 17,160 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the transaction, the director directly owned 101,841 shares of the company's stock, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The transaction 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 transaction, the director directly owned 188,362 shares of the company's stock, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Coeur Mining

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Coeur Mining by 57.3% during the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock valued at $378,903,000 after purchasing an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Coeur Mining by 26.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock valued at $128,774,000 after purchasing an additional 4,594,097 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Coeur Mining by 72.5% during the 1st 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 purchasing an additional 7,579,901 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Coeur Mining by 11.1% during the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock valued at $76,326,000 after purchasing an additional 1,332,684 shares in the last quarter. Finally, Sprott Inc. increased its holdings in shares of Coeur Mining by 889.3% during the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after purchasing an additional 10,180,102 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.