Stoneridge Investment Partners LLC Reduces Position in Coeur Mining, Inc. (NYSE:CDE)
Stoneridge Investment Partners LLC cut its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 61.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,504 shares of the basic materials company’s stock after selling 25,772 shares during the period. Stoneridge Investment Partners LLC’s holdings in Coeur Mining were worth $142,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Coeur Mining by 13.1% in the first quarter. Van ECK Associates Corp now owns 12,678,302 shares of the basic materials company’s stock worth $102,441,000 after buying an additional 1,464,214 shares during the last quarter. GMT Capital Corp raised its position in shares of Coeur Mining by 47.7% in the first quarter. GMT Capital Corp now owns 11,747,789 shares of the basic materials company’s stock worth $94,922,000 after buying an additional 3,792,700 shares during the last quarter. BlackRock Inc. raised its position in shares of Coeur Mining by 56,698.4% in the first quarter. BlackRock Inc. now owns 11,538,591 shares of the basic materials company’s stock worth $93,231,000 after buying an additional 11,518,276 shares during the last quarter. State Street Corp raised its position in shares of Coeur Mining by 25.5% in the first quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock worth $70,842,000 after buying an additional 1,780,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 19.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,814,259 shares of the basic materials company’s stock worth $22,738,000 after buying an additional 453,663 shares during the last quarter. Institutional investors own 68.07% of the company’s stock.
Shares of Coeur Mining, Inc. (NYSE CDE) opened at 7.76 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 20.16 and a beta of 0.57. The company’s 50 day moving average price is $8.26 and its 200-day moving average price is $8.91. Coeur Mining, Inc. has a 12 month low of $7.30 and a 12 month high of $16.00.
Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $173.40 million during the quarter, compared to analyst estimates of $174.70 million. Coeur Mining had a return on equity of 10.44% and a net margin of 9.65%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts predict that Coeur Mining, Inc. will post $0.15 earnings per share for the current fiscal year.
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CDE has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and issued a $14.00 price objective on shares of Coeur Mining in a report on Wednesday, May 24th. Zacks Investment Research raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $11.00 target price on shares of Coeur Mining in a research note on Friday, June 30th. BidaskClub downgraded Coeur Mining from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, Noble Financial reaffirmed a “hold” rating on shares of Coeur Mining in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Coeur Mining has an average rating of “Hold” and a consensus target price of $11.29.
In other Coeur Mining news, CFO Peter C. Mitchell sold 10,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $81,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.
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