Why Coeur Mining, Inc. (CDE) Went Down Last Week

We recently compiled a list of the 10 Stocks That Underperformed Last Week. In this article, we are going to take a look at where Coeur Mining, Inc. (NYSE:CDE) stands against the other stocks.

Wall Street’s main indices ended in a bloodbath on Friday, as investors soured on a flurry of macroeconomic factors such as concerns over a slowing economy and a sticky inflation that tempered buying appetite.

Friday’s finish saw the Dow Jones decline by 1.69 percent, the S&P drop by 1.71 percent, and the tech-heavy Nasdaq nosedive by 2.20 percent.

Ten companies, in particular, were heavily hit, registering mostly double-digit losses on a week-on-week basis.

We have listed 10 names that performed poorly last week and detailed the reasons behind their declines. Please note that shares performances were based on the companies’ closing prices last Friday, February 21, as against their prices on February 14, or a week earlier.

To come up with last week’s biggest losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

Aerial view of a gold mine, reflecting the company’s precious metals mining operations.

Coeur Mining, Inc. (NYSE:CDE)

Shares of Coeur Mining, Inc. (NYSE:CDE) fell by 17.4 percent week-on-week, finishing Friday’s trading at $5.46 versus the $6.61 registered on February 14 as investor sentiment was dampened by missed expectations on its earnings performance despite marking an improvement.

According to Coeur Mining, Inc. (NYSE:CDE), it was able to narrow its net loss by 43.4 percent to $58.9 million last year from the $103.6 million registered in 2023, as revenues rose 28 percent to $1.05 billion year-on-year.

Loss per share also stood at $0.15. Albeit better than the $0.30 loss in full-year 2023, it missed analyst expectations by 27 percent.

In recent news, Coeur Mining, Inc. (NYSE:CDE) successfully acquired SilverCrest Metals, with the latter’s shareholders receiving 1.6022 Coeur Mining, Inc. (NYSE:CDE) common shares for each SilverCrest common share. CDE issued more than 239 million shares in the transaction.

Overall CDE ranks 7th on our list of the stocks that underperformed last week. While we acknowledge the potential of CDE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CDE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.