Coeur Mining (NYSE:CDE) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Coeur Mining (NYSE:CDE) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks reports.

CDE has been the topic of several other research reports. Roth Capital set a $19.00 target price on Coeur Mining in a report on Friday, August 7th. Scotiabank decreased their price target on Coeur Mining from $26.50 to $23.50 and set a “sector outperform” rating for the company in a research note on Monday. Weiss Ratings cut Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Needham & Company LLC set a $23.50 price target on Coeur Mining in a research report on Monday. Finally, New Street Research set a $23.50 price objective on Coeur Mining in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.28.

Coeur Mining Stock Performance

Shares of CDE opened at $15.32 on Monday. The firm has a market capitalization of $15.65 billion, a PE ratio of 17.61 and a beta of 1.46. The company has a quick ratio of 2.60, a current ratio of 3.79 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $17.22 and a 200 day moving average price of $18.68. Coeur Mining has a 52-week low of $12.71 and a 52-week high of $27.77.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $983.62 million for the quarter, compared to the consensus estimate of $1.14 billion. Coeur Mining had a return on equity of 8.12% and a net margin of 19.25%. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, sell-side analysts anticipate that Coeur Mining will post 0.77 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Monday, November 30th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a dividend yield of 27.0%. Coeur Mining’s payout ratio is currently 4.60%.

Insider Buying and Selling

In related news, CFO Thomas Whelan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Kenneth Thompson sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total transaction of $519,250.00. Following the sale, the director directly owned 257,333 shares of the company’s stock, valued at approximately $5,344,806.41. This represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,000 shares of company stock worth $1,055,070 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Coeur Mining by 105.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 820 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Coeur Mining during the second quarter valued at $26,000. Bullseye Investment Management LLC purchased a new stake in shares of Coeur Mining during the second quarter valued at $33,000. Heritage Family Offices LLP purchased a new stake in shares of Coeur Mining during the third quarter valued at $39,000. Finally, Provenance Wealth Advisors LLC acquired a new position in shares of Coeur Mining in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc. is a precious metals producer focused on the exploration, development and operation of mines. The company primarily produces silver and gold, with its output also including related metals. Coeur operates mines in the United States and Mexico. Its portfolio includes silver-and-gold operations as well as gold-focused mines, and the company also conducts exploration to identify and develop mineral resources. Founded in 1928, Coeur Mining is headquartered in Chicago. Mitchell J. Krebs serves as the company’s president and chief executive officer.