Salem Investment Counselors Inc. trimmed its position in Coeur Mining, Inc. (NYSE:CDE – Free Report) by 95.6% in the 4th quarter, HoldingsChannel reports. The fund owned 15,250 shares of the basic materials company’s stock after selling 329,350 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Coeur Mining were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the period. Renaissance Technologies LLC bought a new position in Coeur Mining in the 2nd quarter worth $4,822,000. JPMorgan Chase & Co. increased its stake in Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after buying an additional 665,452 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Coeur Mining during the second quarter valued at about $2,382,000. Finally, Van ECK Associates Corp lifted its position in shares of Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after acquiring an additional 365,115 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.
Wall Street Analyst Weigh In
CDE has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their price objective on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Roth Mkm reissued a “buy” rating and issued a $8.50 target price (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Raymond James raised their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.81.
Coeur Mining Price Performance
CDE stock opened at $6.33 on Wednesday. The company has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $6.33. Coeur Mining, Inc. has a 52 week low of $2.42 and a 52 week high of $7.72. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.53 billion, a P/E ratio of -210.93 and a beta of 1.60.
Coeur Mining (NYSE:CDE – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The company had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 61.1% on a year-over-year basis. Analysts anticipate that Coeur Mining, Inc. will post 0.15 earnings per share for the current fiscal year.
About Coeur Mining
Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.
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