Handelsbanken Fonder AB Sells 108,709 Shares of Coeur Mining, Inc. $CDE

Handelsbanken Fonder AB decreased its stake in Coeur Mining, Inc. (NYSE:CDE) by 23.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 347,726 shares of the basic materials company’s stock after selling 108,709 shares during the period. Handelsbanken Fonder AB’s holdings in Coeur Mining were worth $5,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Coeur Mining by 60.2% during the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock valued at $4,434,000 after purchasing an additional 281,489 shares during the period. Goldman Sachs Group Inc. grew its stake in Coeur Mining by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock worth $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Coeur Mining by 122.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock valued at $14,393,000 after purchasing an additional 1,339,138 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Coeur Mining in the first quarter valued at about $60,000. Finally, Intech Investment Management LLC raised its holdings in shares of Coeur Mining by 58.4% in the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock valued at $1,594,000 after buying an additional 99,256 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CDE has been the topic of a number of research analyst reports. Cantor Fitzgerald lowered shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Zacks Research downgraded Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Scotiabank dropped their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. Finally, Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Coeur Mining presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Coeur Mining Price Performance

CDE opened at $18.84 on Friday. The stock has a market cap of $19.37 billion, a P/E ratio of 16.10 and a beta of 1.32. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $16.40 and a 200 day simple moving average of $18.98. Coeur Mining, Inc. has a 12 month low of $11.23 and a 12 month high of $27.77.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Coeur Mining’s revenue for the quarter was up 125.8% compared to the same quarter last year. On average, research analysts expect that Coeur Mining, Inc. will post 0.95 EPS for the current year.

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.