Canada Pension Plan Investment Board Acquires 59,900 Shares of Coeur Mining, Inc. (CDE)
Canada Pension Plan Investment Board raised its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,800 shares of the basic materials company’s stock after purchasing an additional 59,900 shares during the period. Canada Pension Plan Investment Board owned about 0.21% of Coeur Mining worth $3,573,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CDE. BlackRock Inc. increased its stake in Coeur Mining by 56,698.4% during the first quarter. BlackRock Inc. now owns 11,538,591 shares of the basic materials company’s stock valued at $93,231,000 after purchasing an additional 11,518,276 shares during the last quarter. Van ECK Associates Corp increased its stake in Coeur Mining by 46.8% during the second quarter. Van ECK Associates Corp now owns 18,611,685 shares of the basic materials company’s stock valued at $159,688,000 after purchasing an additional 5,933,383 shares during the last quarter. Investec Asset Management LTD bought a new stake in Coeur Mining during the second quarter valued at $28,801,000. Dimensional Fund Advisors LP increased its stake in Coeur Mining by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,654,860 shares of the basic materials company’s stock valued at $39,939,000 after purchasing an additional 1,840,601 shares during the last quarter. Finally, State Street Corp increased its stake in Coeur Mining by 25.5% during the first quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock valued at $70,842,000 after purchasing an additional 1,780,872 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.
Several research firms have recently commented on CDE. BMO Capital Markets set a $12.00 price target on shares of Coeur Mining and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank Of Canada restated a “buy” rating and set a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of Coeur Mining from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of Coeur Mining from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Roth Capital lowered their price target on shares of Coeur Mining from $12.50 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.05.
In related news, COO Frank L. Jr. Hanagarne sold 28,800 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $8.50, for a total value of $244,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter C. Mitchell sold 10,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $7.67, for a total transaction of $76,700.00. The disclosure for this sale can be found here. Insiders sold 83,610 shares of company stock valued at $708,955 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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Shares of Coeur Mining, Inc. (NYSE:CDE) opened at $7.03 on Thursday. Coeur Mining, Inc. has a 1-year low of $6.98 and a 1-year high of $12.30. The company has a quick ratio of 2.51, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.17). The company had revenue of $176.00 million during the quarter, compared to analyst estimates of $185.09 million. Coeur Mining had a negative return on equity of 1.37% and a negative net margin of 2.41%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. analysts expect that Coeur Mining, Inc. will post -0.05 EPS for the current fiscal year.
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.
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