Coeur Mining (NYSE:CDE) Trading Down 9.9% - What's Next?

Key Points

• Coeur Mining shares fell 9.9% on Friday, trading as low as $16.78 after closing at $18.48, with volume well below average.
• Despite the drop, Wall Street analysts remain mostly positive: the stock carries a “Moderate Buy” consensus with a target price of $24.56, and several firms recently reiterated or raised bullish ratings.
• The company recently reported mixed quarterly results, missing EPS estimates by $0.01 but beating revenue expectations with $856.19 million in sales, while also declaring a $0.02 per-share dividend.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price traded down 9.9% during mid-day trading on Friday . The stock traded as low as $16.78 and last traded at $16.6530. 6,544,234 shares were traded during trading, a decline of 74% from the average session volume of 25,187,176 shares. The stock had previously closed at $18.48.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and set a $25.00 target price on shares of Coeur Mining in a research report on Friday, May 8th. BMO Capital Markets assumed coverage on Coeur Mining in a research report on Wednesday, March 25th. They set an "outperform" rating and a $27.00 target price for the company. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research report on Wednesday, April 29th. Cantor Fitzgerald lowered Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. Finally, ATB Cormark Capital Markets raised Coeur Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.56.

Coeur Mining Stock Performance

The company has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $19.63. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $17.25 billion, a P/E ratio of 14.36 and a beta of 1.25.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. During the same period last year, the business posted $0.11 earnings per share. The business's revenue was up 137.8% on a year-over-year basis. On average, equities analysts forecast that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, May 22nd. This represents a dividend yield of 23.0%. Coeur Mining's dividend payout ratio is currently 3.45%.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company's stock.

Institutional Trading of Coeur Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company's stock valued at $1,238,201,000 after buying an additional 23,646,265 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Coeur Mining by 92.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company's stock valued at $524,669,000 after buying an additional 13,418,041 shares in the last quarter. State Street Corp increased its position in Coeur Mining by 6.7% in the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company's stock valued at $432,390,000 after buying an additional 1,529,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Coeur Mining by 36.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company's stock valued at $447,567,000 after buying an additional 6,352,828 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after buying an additional 7,382,955 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining's portfolio includes five principal operating mines and several exploration projects across North America and Australia.

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