iA Global Asset Management Inc. Reduces Holdings in Coeur Mining, Inc. $CDE

iA Global Asset Management Inc. lowered its position in Coeur Mining, Inc. (NYSE:CDE) by 27.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,500 shares of the basic materials company’s stock after selling 69,550 shares during the quarter. iA Global Asset Management Inc.’s holdings in Coeur Mining were worth $3,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after acquiring an additional 7,382,955 shares during the last quarter. Geode Capital Management LLC grew its stake in Coeur Mining by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock valued at $132,732,000 after purchasing an additional 288,626 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Coeur Mining by 212.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock worth $91,446,000 after purchasing an additional 7,013,222 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after purchasing an additional 1,278,110 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Coeur Mining by 12.3% during the 2nd quarter. Schroder Investment Management Group now owns 6,592,203 shares of the basic materials company’s stock valued at $58,407,000 after buying an additional 723,064 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Stock Up 1.3%

CDE stock opened at $26.11 on Friday. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 39.56 and a beta of 1.24. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $26.50. The firm has a fifty day moving average price of $18.19 and a two-hundred day moving average price of $15.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.00 and a quick ratio of 1.10.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. The business had revenue of $554.57 million during the quarter, compared to analyst estimates of $511.20 million. During the same period last year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was up 76.9% on a year-over-year basis. Research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDE. Roth Mkm lifted their price target on shares of Coeur Mining from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Raymond James Financial set a $21.00 price objective on shares of Coeur Mining in a report on Thursday, October 30th. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Zacks Research upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and a consensus price target of $18.17.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.