Coeur Mining (NYSE:CDE) Stock Price Down 8.4% on Analyst Downgrade

Shares of Coeur Mining, Inc. (NYSE:CDE) were down 8.4% during mid-day trading on Friday after Roth Mkm lowered their price target on the stock from $8.50 to $8.25. Roth Mkm currently has a buy rating on the stock. Coeur Mining traded as low as $5.70 and last traded at $5.59. Approximately 4,192,441 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 16,509,152 shares. The stock had previously closed at $6.10.

A number of other research firms have also weighed in on CDE. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a report on Thursday. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $8.75 to $8.25 in a report on Friday. Finally, BMO Capital Markets assumed coverage on shares of Coeur Mining in a research note on Tuesday. They issued an “outperform” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coeur Mining presently has a consensus rating of “Buy” and a consensus target price of $8.31.

Institutional Investors Weigh In On Coeur Mining

Several large investors have recently added to or reduced their stakes in CDE. GAMMA Investing LLC boosted its position in Coeur Mining by 139.8% in the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after buying an additional 3,359 shares during the period. Quarry LP increased its holdings in Coeur Mining by 853.8% during the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 5,968 shares during the period. Optiver Holding B.V. increased its holdings in Coeur Mining by 150.5% during the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 4,903 shares during the period. FNY Investment Advisers LLC purchased a new position in Coeur Mining during the 4th quarter worth $57,000. Finally, DRW Securities LLC purchased a new position in Coeur Mining during the 4th quarter worth $60,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Down 10.2 %

The stock’s 50 day moving average is $6.33 and its two-hundred day moving average is $6.39. The company has a market capitalization of $2.19 billion, a PE ratio of 45.71 and a beta of 1.59. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.71%. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

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.