Coeur Mining (NYSE:CDE) Shares Gap Down – Time to Sell?

Coeur Mining, Inc. (NYSE:CDE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.08, but opened at $6.56. Coeur Mining shares last traded at $6.43, with a volume of 7,766,142 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James lifted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. BMO Capital Markets boosted their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Roth Mkm boosted their target price on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.83.

Coeur Mining Trading Down 6.9 %

The stock’s fifty day moving average price is $6.25 and its 200 day moving average price is $5.57. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.63 billion, a P/E ratio of -21.26 and a beta of 1.65.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $222.03 million during the quarter, compared to analyst estimates of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. Coeur Mining’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) EPS. Equities research analysts expect that Coeur Mining, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Coeur Mining

Several large investors have recently modified their holdings of CDE. CWM LLC raised its position in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 4,490 shares during the last quarter. Ballentine Partners LLC purchased a new position in Coeur Mining in the 1st quarter worth about $46,000. StoneX Group Inc. purchased a new position in Coeur Mining in the 1st quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Coeur Mining in the 2nd quarter worth about $49,000. Finally, &PARTNERS purchased a new position in Coeur Mining in the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.