Coeur Mining (NYSE:CDE) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Coeur Mining (NYSE:CDEGet Rating) from a buy rating to a hold rating in a report issued on Friday morning, The Fly reports. They currently have $3.50 price objective on the basic materials company’s stock, down from their prior price objective of $3.75.

A number of other research firms also recently commented on CDE. Canaccord Genuity Group downgraded Coeur Mining from a buy rating to a hold rating and reduced their target price for the company from $3.75 to $3.50 in a research report on Friday. Raymond James set a $6.00 price target on Coeur Mining and gave the stock a market perform rating in a report on Friday, May 6th. Finally, BMO Capital Markets decreased their price target on shares of Coeur Mining from $4.75 to $3.75 and set a market perform rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $4.40.

Coeur Mining Stock Down 1.6 %

Shares of CDE stock opened at $3.12 on Friday. The stock has a 50 day moving average of $3.27 and a 200 day moving average of $4.03. The company has a current ratio of 1.19, a quick ratio of 0.54 and a debt-to-equity ratio of 0.51. Coeur Mining has a twelve month low of $2.54 and a twelve month high of $7.64.

Coeur Mining (NYSE:CDEGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $188.20 million during the quarter, compared to analyst estimates of $193.63 million. Coeur Mining had a negative return on equity of 4.91% and a negative net margin of 16.73%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts expect that Coeur Mining will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Coeur Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its stake in shares of Coeur Mining by 4.9% during the 4th quarter. Handelsbanken Fonder AB now owns 53,529 shares of the basic materials company’s stock valued at $270,000 after buying an additional 2,500 shares during the period. Strs Ohio increased its position in shares of Coeur Mining by 2.7% in the 1st quarter. Strs Ohio now owns 101,500 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 2,700 shares during the last quarter. Sprott Inc. increased its position in shares of Coeur Mining by 0.3% in the 1st quarter. Sprott Inc. now owns 951,656 shares of the basic materials company’s stock worth $4,235,000 after purchasing an additional 2,999 shares during the last quarter. Raymond James & Associates increased its position in shares of Coeur Mining by 6.4% in the 1st quarter. Raymond James & Associates now owns 50,555 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Profund Advisors LLC grew its position in shares of Coeur Mining by 11.2% during the 1st quarter. Profund Advisors LLC now owns 30,902 shares of the basic materials company’s stock valued at $138,000 after buying an additional 3,102 shares during the last quarter. 58.12% of the stock is currently owned by hedge funds and other institutional investors.

About Coeur Mining

(Get Rating)

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 holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.

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