Coeur Mining Inc. (CDE) stock Holds On after being downgraded at Vetr Inc.

Coeur Mining Inc. (NYSE: CDE) shares fell on Monday Dec 5 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a downgraded rating.

Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.

The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.

Shares of Coeur Mining Inc. (NYSE: CDE) were downgraded by analysts at Vetr Inc. in a note to their investors today. Vetr Inc. currently has a rating of Buy on the stock. The one-year price target of $14.94 is above the opening price of $10.17, resulting a fair amount of other analysts to report on the company in recent days. Looking back over the last year, Coeur Mining Inc. stock has a high of $16.41. Important and fundamental digressions in the company’s actions, future outlook or industry can cause downgrades as the analysts feel that the future prospects for the security have weakened from the initial recommendation.

Coeur Mining Inc. (NYSE: CDE) shares last traded at $10.24, which represents a dip of $0.02 per share or -0.19% from the previous closing price. Opening at $10.17, they varied from $10.05 and $10.26 throughout the day.

Coeur Mining Inc. (NYSE: CDE) now has a market cap of 1.74B.

Coeur Mining Inc. (NYSE: CDE) Average Daily Trading Volume

The stock’s average daily volume is 5,685,620 shares out of a total float 168,352,000 and some 261,375 shares crossed the trading desk yesterday, lower than normal. Investors often use upticks in trading volume to determine large volume growth or dissemination by institutional investors, so look for trading volume to pick up in the coming days.

While higher trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.

Coeur Mining Inc. (NYSE: CDE) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

Trades for Coeur Mining Inc. (NYSE: CDE) have ranged from $1.62 – 16.41, and the stock now has a 50-day MA of $10.49 and 200-day MA of $11.57. Today’s last price is 37.60%% under the 52 week high of $16.41.

Earnings growth is a critical factor to consider when investing in stocks and investors seek companies that have grown their earnings at least 25% or more over 3 consecutive years.

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