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

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) 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 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 Analyst Weigh In

CDE has been the subject of several recent analyst reports. Roth Capital reiterated a "buy" rating and issued a $12.00 target price (up previously from $10.00) on shares of Coeur Mining in a research note on Tuesday, July 1st. Raymond James Financial reiterated an "outperform" rating and issued a $8.50 target price on shares of Coeur Mining in a research note on Wednesday, April 2nd. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research note on Friday, June 13th. Finally, National Bank Financial upgraded shares of 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 stock. According to MarketBeat, Coeur Mining currently has an average rating of "Buy" and an average price target of $9.21.

Coeur Mining Stock Up 5.5%

The stock's fifty day moving average is $8.33 and its two-hundred day moving average is $6.81. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $6.15 billion, a PE ratio of 36.98 and a beta of 1.32.

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

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, Director Eduardo Luna sold 17,160 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the sale, the director directly owned 101,841 shares of the company's stock, valued at $797,415.03. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the 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 completion of the sale, the chief accounting officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock valued at $667,775 over the last three months. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Coeur Mining by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,248,706 shares of the basic materials company's stock worth $7,143,000 after purchasing an additional 5,541 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Coeur Mining in the fourth quarter worth approximately $92,000. US Bancorp DE lifted its stake in Coeur Mining by 595.5% in the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company's stock worth $503,000 after acquiring an additional 75,314 shares during the period. Raymond James Financial Inc. purchased a new stake in Coeur Mining in the fourth quarter worth $3,738,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Coeur Mining in the fourth quarter worth $325,000. 63.01% of the stock is owned by hedge funds and other 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.