Coeur Mining Inc (CDE) Position Reduced by Wells Fargo & Company MN
Wells Fargo & Company MN lessened its stake in Coeur Mining Inc (NYSE:CDE) by 43.6% in the third quarter, Holdings Channel reports. The firm owned 245,992 shares of the basic materials company’s stock after selling 189,989 shares during the period. Wells Fargo & Company MN’s holdings in Coeur Mining were worth $2,261,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDE. Van ECK Associates Corp increased its holdings in shares of Coeur Mining by 46.8% in the second quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock worth $159,688,000 after acquiring an additional 5,933,383 shares in the last quarter. GMT Capital Corp increased its holdings in shares of Coeur Mining by 5.1% in the second quarter. GMT Capital Corp now owns 12,348,689 shares of the basic materials company’s stock worth $96,690,000 after acquiring an additional 600,900 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Coeur Mining by 1.3% in the second quarter. BlackRock Inc. now owns 11,688,139 shares of the basic materials company’s stock worth $100,285,000 after acquiring an additional 149,548 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Coeur Mining by 65.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock worth $39,939,000 after acquiring an additional 1,840,601 shares in the last quarter. Finally, Investec Asset Management LTD bought a new stake in shares of Coeur Mining in the second quarter worth about $28,801,000. Institutional investors and hedge funds own 69.73% of the company’s stock.
In related news, VP Mark Spurbeck sold 15,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $7.42, for a total transaction of $111,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $7.67, for a total value of $76,700.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Coeur Mining Inc (CDE) opened at $8.55 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 2.51 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1,587.22, a PE ratio of -106.86 and a beta of 0.38. Coeur Mining Inc has a fifty-two week low of $6.71 and a fifty-two week high of $12.30.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.17). The firm had revenue of $176.00 million for the quarter, compared to the consensus estimate of $185.09 million. Coeur Mining had a negative return on equity of 1.37% and a negative net margin of 2.41%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. analysts anticipate that Coeur Mining Inc will post -0.05 EPS for the current year.
CDE has been the subject of several recent analyst reports. Royal Bank of Canada set a $10.00 price target on Coeur Mining and gave the stock a “buy” rating in a report on Tuesday, December 5th. Roth Capital lowered their price target on Coeur Mining from $12.50 to $10.00 and set a “buy” rating for the company in a report on Friday, October 27th. BMO Capital Markets set a $12.00 price target on Coeur Mining and gave the stock a “buy” rating in a report on Tuesday, November 14th. Noble Financial restated a “hold” rating on shares of Coeur Mining in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.29.
Coeur Mining 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.
Want to see what other hedge funds are holding CDE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coeur Mining Inc (NYSE:CDE).
Receive News & Ratings for Coeur Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coeur Mining and related companies with MarketBeat.com's FREE daily email newsletter.