Coeur Mining (NYSE:CDE) Cut to Neutral at Cantor Fitzgerald (2024)

Posted by Defense World Staff on Aug 11th, 2024

Cantor Fitzgerald lowered shares of Coeur Mining (NYSE:CDE – Free Report) from an overweight rating to a neutral rating in a research note published on Thursday, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on CDE. BMO Capital Markets boosted their price target on Coeur Mining from $6.75 to $7.50 and gave the company an outperform rating in a research note on Friday, July 12th. Raymond James boosted their price target on Coeur Mining from $5.00 to $5.75 and gave the company a market perform rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $6.44.

Get Our Latest Analysis on Coeur Mining

Coeur Mining Price Performance

NYSE CDE opened at $5.44 on Thursday. Coeur Mining has a one year low of $2.00 and a one year high of $6.82. The stock has a 50-day moving average of $5.89 and a 200 day moving average of $4.61. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -17.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99.

Coeur Mining (NYSE:CDE – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. On average, sell-side analysts forecast that Coeur Mining will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of Coeur Mining by 18.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock worth $10,254,000 after acquiring an additional 424,835 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Coeur Mining by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after acquiring an additional 3,989,352 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Coeur Mining by 149.1% during the 1st quarter. BNP Paribas Financial Markets now owns 323,988 shares of the basic materials company’s stock worth $1,221,000 after acquiring an additional 193,912 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Coeur Mining by 253.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 872,659 shares of the basic materials company’s stock worth $3,290,000 after acquiring an additional 625,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Coeur Mining by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock worth $52,445,000 after acquiring an additional 84,920 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.