Van ECK Associates Corp cut its stake in Coeur Mining Inc (NYSE:CDE) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,041,950 shares of the basic materials company’s stock after selling 726,442 shares during the period. Van ECK Associates Corp owned approximately 11.23% of Coeur Mining worth $100,002,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC boosted its holdings in Coeur Mining by 17.0% in the 1st quarter. ETF Managers Group LLC now owns 500,107 shares of the basic materials company’s stock valued at $2,040,000 after purchasing an additional 72,694 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Coeur Mining by 44.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 397,705 shares of the basic materials company’s stock valued at $1,623,000 after purchasing an additional 123,309 shares during the period. Norges Bank bought a new stake in Coeur Mining in the 4th quarter valued at $7,183,000. Legal & General Group Plc boosted its holdings in Coeur Mining by 5.9% in the 4th quarter. Legal & General Group Plc now owns 69,486 shares of the basic materials company’s stock valued at $310,000 after purchasing an additional 3,880 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Coeur Mining by 1,075.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 10,930 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 10,000 shares during the period. 64.51% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Roth Capital reissued a “neutral” rating and issued a $5.25 price target on shares of Coeur Mining in a report on Wednesday, August 7th. Canaccord Genuity cut shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $5.50 price objective for the company. in a research note on Thursday, August 8th. Noble Financial set a $6.00 price objective on shares of Coeur Mining and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets set a $5.00 price objective on shares of Coeur Mining and gave the company a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Coeur Mining currently has a consensus rating of “Hold” and an average price target of $5.58.
Shares of CDE stock traded up $0.17 during mid-day trading on Friday, reaching $5.14. The company’s stock had a trading volume of 8,446,676 shares, compared to its average volume of 6,756,079. Coeur Mining Inc has a 1-year low of $2.78 and a 1-year high of $5.92. The company has a market cap of $1.10 billion, a P/E ratio of -514.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.42 and a current ratio of 1.05. The firm’s 50-day moving average is $4.83 and its two-hundred day moving average is $4.23.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $161.18 million. Coeur Mining had a negative net margin of 17.81% and a negative return on equity of 6.00%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. Sell-side analysts anticipate that Coeur Mining Inc will post -0.26 EPS for the current year.
In other news, CFO Thomas S. Whelan bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average price of $2.84 per share, for a total transaction of $71,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Kenneth J. Watkinson sold 9,891 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $5.48, for a total transaction of $54,202.68. The disclosure for this sale can be found here. Company insiders own 1.88% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.
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