The Coeur Mining, Inc. (CDE) Downgraded to “Strong Sell” at Zacks Investment Research

The Coeur Mining, Inc. (CDE) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Coeur Mining, Inc. (NYSE:CDE) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Coeur Mining, Inc. operates as a primary silver and gold producer with precious metals mines in the Americas. The company’s principal properties include the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. It also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. Coeur Mining, Inc., formerly known as Coeur d’Alene Mines Corporation, is headquartered in Chicago, Illinois. “

Several other equities analysts have also recently weighed in on CDE. BMO Capital Markets reaffirmed a buy rating and set a $11.00 price target on shares of Coeur Mining in a research note on Friday, June 30th. Royal Bank Of Canada reaffirmed a buy rating on shares of Coeur Mining in a research note on Friday, July 14th. Noble Financial reaffirmed a hold rating on shares of Coeur Mining in a research note on Friday, July 28th. BidaskClub cut shares of Coeur Mining from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Finally, ValuEngine cut shares of Coeur Mining from a hold rating to a sell rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $11.62.

Coeur Mining (NYSE:CDE) traded down 9.892% during mid-day trading on Wednesday, reaching $7.515. 6,553,901 shares of the company’s stock were exchanged. Coeur Mining has a 52-week low of $7.30 and a 52-week high of $12.30. The stock has a 50-day moving average price of $9.07 and a 200 day moving average price of $8.82. The company has a market cap of $1.36 billion, a PE ratio of 19.519 and a beta of 0.40.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.17). The business had revenue of $176.00 million for the quarter, compared to the consensus estimate of $185.09 million. Coeur Mining had a return on equity of 10.44% and a net margin of 9.65%. Coeur Mining’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities analysts predict that Coeur Mining will post $0.11 earnings per share for the current fiscal year.

In related news, COO Frank L. Jr. Hanagarne sold 10,310 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $9.29, for a total value of $95,779.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Spurbeck sold 9,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $9.25, for a total transaction of $87,875.00. The disclosure for this sale can be found here. Insiders sold 68,610 shares of company stock valued at $602,855 over the last three months. 1.30% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Coeur Mining by 46.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock valued at $159,688,000 after purchasing an additional 5,933,383 shares during the last quarter. GMT Capital Corp lifted its holdings in Coeur Mining by 5.1% during the 2nd quarter. GMT Capital Corp now owns 12,348,689 shares of the basic materials company’s stock valued at $96,690,000 after purchasing an additional 600,900 shares during the last quarter. BlackRock Inc. lifted its holdings in Coeur Mining by 1.3% during the 2nd quarter. BlackRock Inc. now owns 11,688,139 shares of the basic materials company’s stock valued at $100,285,000 after purchasing an additional 149,548 shares during the last quarter. State Street Corp lifted its holdings in Coeur Mining by 25.5% during the 1st quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock valued at $70,842,000 after purchasing an additional 1,780,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Coeur Mining by 65.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock valued at $39,939,000 after purchasing an additional 1,840,601 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Company Profile

Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.

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