Why Did Noble Financial Downgrade Coeur Mining’s Stock?

Noble Financial analyst Mark Reichman downgraded Coeur Mining (CDEResearch Report) to Hold today. The company’s shares closed last Thursday at $8.23.

According to TipRanks.com, Reichman is a 4-star analyst with an average return of 17.6% and a 45.0% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Comstock Mining, and Chakana Copper.

Currently, the analyst consensus on Coeur Mining is a Moderate Buy with an average price target of $9.92, a 5.6% upside from current levels. In a report released yesterday, BMO Capital also maintained a Hold rating on the stock with a $9.75 price target.

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Based on Coeur Mining’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $228 million and net profit of $11.88 million. In comparison, last year the company earned revenue of $195 million and had a GAAP net loss of $271 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CDE in relation to earlier this year.

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Coeur Mining, Inc. engages in the exploration and development of silver and gold mining properties and mines located in United States, Mexico, Bolivia, Argentina and Australia. The company operates through the following segments: Palmarejo complex, Rochester, Kensington, Wharf and Silvertip. Coeur Mining was founded in 1928 and is headquartered in Chicago, IL.