Coeur Mining (NYSE:CDE) Sets New 52-Week Low - Here's Why

Key Points

• Coeur Mining shares hit a new 52-week low of $13.01, down from the prior close of $14.04 and well below the 50-day and 200-day moving averages.
• The decline follows a quarterly earnings miss: Coeur reported $0.12 in EPS versus the $0.26 consensus estimate and revenue of $1.09 billion versus expectations of $1.24 billion, despite revenue increasing 125.8% year over year.
• Analyst sentiment remains cautiously positive, with a “Moderate Buy” consensus and average price target of $26.06, although several firms recently lowered ratings or targets. Insiders sold 51,000 shares worth about $1.06 million over the past 90 days.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) shares reached a new 52-week low during trading on Friday. The company traded as low as $13.01 and last traded at $13.1510, with a volume of 1,979,383 shares changing hands. The stock had previously closed at $14.04.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDE. Zacks Research raised Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Roth Capital set a $19.00 price objective on shares of Coeur Mining in a research report on Friday, August 7th. Weiss Ratings cut Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, Scotiabank dropped their target price on Coeur Mining from $28.50 to $26.50 and set an "outperform" rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Coeur Mining has a consensus rating of "Moderate Buy" and an average price target of $26.06.

Coeur Mining Stock Performance

The firm has a market capitalization of $13.48 billion, a PE ratio of 11.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The stock has a 50-day moving average price of $18.30 and a 200-day moving average price of $18.99.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. Coeur Mining's quarterly revenue was up 125.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. On average, research analysts expect that Coeur Mining, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other news, CFO Thomas Whelan sold 6,000 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Casey Nault sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the executive vice president owned 540,086 shares of the company's stock, valued at $10,801,720. The trade was a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 51,000 shares of company stock valued at $1,055,070. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coeur Mining

Several institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 worth $524,669,000 after purchasing an additional 13,418,041 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Coeur Mining by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company's stock worth $241,484,000 after acquiring an additional 3,291,431 shares during the period. Renaissance Technologies LLC increased its position in shares of Coeur Mining by 889.6% in the first quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company's stock valued at $128,965,000 after acquiring an additional 6,176,524 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Coeur Mining in the second quarter valued at approximately $104,760,000. Finally, Amundi increased its stake in shares of Coeur Mining by 107.0% during the first quarter. Amundi now owns 6,164,731 shares of the basic materials company's stock worth $115,712,000 after purchasing an additional 3,186,761 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur's operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.

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