Coeur Mining Inc. (CDE) Downgraded by Vetr Inc. to “Hold”
Vetr downgraded shares of Coeur Mining Inc. (NYSE:CDE) from a strong-buy rating to a hold rating in a report published on Thursday morning. They currently have $11.10 price objective on the stock.
Several other research firms also recently weighed in on CDE. CIBC upgraded shares of Coeur Mining from a sector underperform rating to a sector perform rating in a report on Tuesday, August 30th. Zacks Investment Research downgraded shares of Coeur Mining from a buy rating to a hold rating in a report on Tuesday, September 27th. Deutsche Bank AG restated a sell rating on shares of Coeur Mining in a report on Wednesday, July 20th. Roth Capital restated a buy rating on shares of Coeur Mining in a report on Monday, June 27th. Finally, Barclays PLC raised their target price on shares of Coeur Mining and gave the company an outperform rating in a report on Monday, June 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Coeur Mining presently has an average rating of Buy and an average target price of $7.46.
Coeur Mining (NYSE:CDE) traded up 3.17% during midday trading on Thursday, hitting $11.05. 2,159,170 shares of the stock were exchanged. The firm has a 50 day moving average of $12.96 and a 200-day moving average of $10.48. The stock’s market cap is $1.79 billion. Coeur Mining has a 12-month low of $1.62 and a 12-month high of $16.41.
Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Coeur Mining had a negative net margin of 49.17% and a negative return on equity of 8.38%. The firm earned $182 million during the quarter, compared to the consensus estimate of $173.92 million. During the same period last year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts expect that Coeur Mining will post $0.35 earnings per share for the current year.
In other news, CFO Peter C. Mitchell sold 16,157 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $15.88, for a total value of $256,573.16. Following the completion of the sale, the chief financial officer now directly owns 270,260 shares of the company’s stock, valued at $4,291,728.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hans John Rasmussen sold 2,500 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $16.15, for a total value of $40,375.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares in the last quarter. Bogle Investment Management L P DE purchased a new position in shares of Coeur Mining during the first quarter worth approximately $13,022,000. Sprott Inc. raised its position in shares of Coeur Mining by 495.2% in the second quarter. Sprott Inc. now owns 1,819,600 shares of the company’s stock worth $19,397,000 after buying an additional 1,513,900 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Coeur Mining by 589.1% in the first quarter. Teachers Advisors Inc. now owns 1,579,196 shares of the company’s stock worth $8,875,000 after buying an additional 1,350,035 shares during the last quarter. Finally, GMT Capital Corp raised its position in shares of Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock worth $69,679,000 after buying an additional 1,258,405 shares during the last quarter. 69.47% of the stock is owned by institutional investors.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
To view Vetr’s full report, visit Vetr’s official website.
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