Coeur Mining (NYSE:CDE) Cut to Sell at Zacks Investment Research

Coeur Mining (NYSE:CDE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, January 11th.

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. “

A number of other equities research analysts have also recently issued reports on CDE. Royal Bank of Canada reiterated a “buy” rating on shares of Coeur Mining in a research note on Wednesday, September 27th. Roth Capital dropped their price objective on Coeur Mining from $12.50 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Raymond James Financial boosted their target price on Coeur Mining from $9.50 to $12.50 and gave the stock a “market perform” rating in a report on Friday, September 15th. Noble Financial reissued a “hold” rating on shares of Coeur Mining in a report on Wednesday, September 13th. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a report on Friday, November 17th. They set an “outperform” rating and a $10.50 target price on the stock. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Coeur Mining has an average rating of “Hold” and an average target price of $10.29.

Shares of Coeur Mining (CDE) traded down $0.28 during trading on Thursday, hitting $8.33. The stock had a trading volume of 1,963,226 shares, compared to its average volume of 3,025,650. Coeur Mining has a one year low of $6.71 and a one year high of $12.30. The company has a market cap of $1,550.00, a PE ratio of -83.30 and a beta of 0.38. The company has a current ratio of 3.68, a quick ratio of 2.51 and a debt-to-equity ratio of 0.36.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.17). Coeur Mining had a negative return on equity of 1.37% and a negative net margin of 2.41%. The company had revenue of $176.00 million for the quarter, compared to the consensus estimate of $185.09 million. During the same quarter in the prior year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. analysts forecast that Coeur Mining will post -0.05 earnings per share for the current fiscal year.

In related news, COO Frank L. Jr. Hanagarne sold 5,684 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $8.50, for a total transaction of $48,314.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Spurbeck sold 15,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $7.42, for a total value of $111,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,684 shares of company stock worth $236,314 over the last three months. 1.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CDE. Stevens Capital Management LP acquired a new position in Coeur Mining in the 2nd quarter valued at $123,000. Russell Investments Group Ltd. acquired a new position in Coeur Mining in the 2nd quarter valued at $141,000. QCM Cayman Ltd. acquired a new position in Coeur Mining in the 2nd quarter valued at $160,000. Parametrica Management Ltd acquired a new position in Coeur Mining in the 3rd quarter valued at $160,000. Finally, Prudential Financial Inc. grew its holdings in Coeur Mining by 7.6% in the 2nd quarter. Prudential Financial Inc. now owns 19,451 shares of the basic materials company’s stock valued at $167,000 after buying an additional 1,370 shares in the last quarter. 69.73% of the stock is currently owned by hedge funds and other institutional investors.

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About Coeur Mining

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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