First Eagle Investment Management LLC Reduces Stock Position in Coeur Mining, Inc. $CDE

First Eagle Investment Management LLC reduced its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 25.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,231,606 shares of the basic materials company’s stock after selling 423,610 shares during the quarter. First Eagle Investment Management LLC’s holdings in Coeur Mining were worth $21,960,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sound Income Strategies LLC lifted its stake in shares of Coeur Mining by 99.2% during the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 996 shares in the last quarter. Savant Capital LLC boosted its position in shares of Coeur Mining by 2.3% in the third quarter. Savant Capital LLC now owns 46,551 shares of the basic materials company’s stock valued at $873,000 after acquiring an additional 1,066 shares during the period. Zacks Investment Management grew its position in shares of Coeur Mining by 0.8% during the 3rd quarter. Zacks Investment Management now owns 165,988 shares of the basic materials company’s stock valued at $3,114,000 after purchasing an additional 1,246 shares in the last quarter. Vise Technologies Inc. grew its position in shares of Coeur Mining by 8.3% during the 3rd quarter. Vise Technologies Inc. now owns 16,300 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Coeur Mining by 121.6% during the 4th quarter. Comerica Bank now owns 2,473 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,357 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price target for the company. Zacks Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research note on Thursday. Canadian Imperial Bank of Commerce initiated coverage on shares of Coeur Mining in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.

Coeur Mining Stock Performance

Shares of CDE stock opened at $19.79 on Tuesday. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 17.06 and a beta of 1.24. The stock has a fifty day moving average of $19.85 and a 200 day moving average of $19.36. Coeur Mining, Inc. has a 52 week low of $7.15 and a 52 week high of $27.77. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The business’s revenue was up 137.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. As a group, research analysts expect that Coeur Mining, Inc. will post 1.42 earnings per share for the current year.

Coeur Mining Company Profile

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.