Coeur Mining (NYSE:CDE) Shares Gap Down - Here's Why

Key Points

• Coeur Mining shares fell 5.2%, opening at $18.08 versus the prior close of $19.22, before trading around $18.52.
• The company’s latest quarterly results missed expectations, reporting $0.12 in EPS versus a $0.26 consensus and revenue of $1.09 billion versus $1.24 billion expected, despite 125.8% year-over-year revenue growth.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $25.50; however, insiders sold 51,000 shares worth approximately $1.06 million during the quarter.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report)'s stock price gapped down before the market opened on Monday. The stock had previously closed at $19.22, but opened at $18.08. Coeur Mining shares last traded at $18.52, with a volume of 2,913,827 shares.

Analysts Set New Price Targets

CDE has been the topic of several research reports. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research report on Friday, August 7th. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research report on Monday, September 21st. Scotiabank lowered their price objective on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.50.

Coeur Mining Stock Down 5.2%

The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 15.60 and a beta of 1.39. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $18.80 and a 200-day moving average price of $18.34.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The company's revenue for the quarter was up 125.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. As a group, equities analysts anticipate that Coeur Mining, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other Coeur Mining news, EVP Casey M. Nault sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. This trade represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J. Kenneth Thompson sold 25,000 shares of Coeur Mining stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the transaction, the director directly owned 257,333 shares in the company, valued at approximately $5,344,806.41. This trade represents a 8.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 51,000 shares of company stock worth $1,055,070. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coeur Mining

A number of large investors have recently made changes to their positions in the business. Andra AP fonden acquired a new stake in shares of Coeur Mining during the second quarter worth approximately $5,825,000. Bullseye Investment Management LLC purchased a new stake in Coeur Mining in the 2nd quarter worth approximately $33,000. Integrated Wealth Concepts LLC purchased a new stake in Coeur Mining in the 2nd quarter worth approximately $170,000. RFG Advisory LLC boosted its stake in shares of Coeur Mining by 4.4% during the 2nd quarter. RFG Advisory LLC now owns 70,918 shares of the basic materials company's stock valued at $1,157,000 after buying an additional 3,005 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Coeur Mining by 74.4% during the 2nd quarter. IFP Advisors Inc now owns 4,155 shares of the basic materials company's stock valued at $68,000 after buying an additional 1,773 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Coeur Mining Company Profile

Coeur Mining, Inc NYSE: CDE is a precious metals mining company that explores for, develops, and produces gold and silver. The company's activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur's operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.

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