Coeur Mining (NYSE:CDE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
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. “
Other research analysts have also issued research reports about the company. Noble Financial reiterated a “hold” rating on shares of Coeur Mining in a research report on Tuesday, October 31st. BMO Capital Markets reiterated a “buy” rating on shares of Coeur Mining in a research report on Wednesday, September 13th. Roth Capital dropped their price target on Coeur Mining from $12.50 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Royal Bank of Canada set a $10.00 price target on Coeur Mining and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Finally, Raymond James Financial upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $10.25 to $10.50 in a research report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.29.
Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.17). The company had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $185.09 million. Coeur Mining had a negative return on equity of 1.37% and a negative net margin of 2.41%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS. analysts predict that Coeur Mining will post -0.05 earnings per share for the current year.
In other Coeur Mining news, CFO Peter C. Mitchell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $7.67, for a total transaction of $76,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Spurbeck sold 15,000 shares of the business’s stock in a transaction that occurred 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. 1.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of Coeur Mining by 46.8% during the second quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock valued at $159,688,000 after buying an additional 5,933,383 shares during the period. Investec Asset Management LTD purchased a new position in shares of Coeur Mining during the second quarter valued at approximately $28,801,000. Ninepoint Partners LP purchased a new position in shares of Coeur Mining during the third quarter valued at approximately $6,378,000. ETF Managers Group LLC purchased a new position in shares of Coeur Mining during the second quarter valued at approximately $5,207,000. Finally, Global X MANAGEMENT CO LLC boosted its position in shares of Coeur Mining by 8.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,349,811 shares of the basic materials company’s stock valued at $21,595,000 after buying an additional 177,097 shares during the period. Institutional investors and hedge funds own 69.73% of the company’s stock.
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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