Van ECK Associates Corp Acquires 23,646,265 Shares of Coeur Mining, Inc. $CDE

Van ECK Associates Corp boosted its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 55.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,002,193 shares of the basic materials company’s stock after buying an additional 23,646,265 shares during the quarter. Coeur Mining makes up approximately 1.1% of Van ECK Associates Corp’s holdings, making the stock its 23rd largest holding. Van ECK Associates Corp owned about 10.28% of Coeur Mining worth $1,238,201,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd increased its holdings in Coeur Mining by 7,011.5% in the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,823 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Coeur Mining during the third quarter worth $62,000. EverSource Wealth Advisors LLC boosted its position in shares of Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after buying an additional 1,435 shares during the period. Luminist Capital LLC bought a new position in shares of Coeur Mining during the 2nd quarter worth approximately $40,000. Finally, MAI Capital Management lifted its position in Coeur Mining by 36.4% during the 3rd quarter. MAI Capital Management now owns 5,704 shares of the basic materials company’s stock worth $107,000 after buying an additional 1,521 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the subject of several recent analyst reports. Zacks Research downgraded shares of Coeur Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings cut shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Canaccord Genuity Group cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada raised their target price on Coeur Mining from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $29.00 target price on shares of Coeur Mining in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.88.

Coeur Mining Stock Performance

Shares of CDE opened at $22.73 on Tuesday. The stock has a 50-day moving average of $22.39 and a 200-day moving average of $18.74. The company has a market cap of $14.60 billion, a PE ratio of 26.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $27.77.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business had revenue of $674.85 million for the quarter, compared to the consensus estimate of $668.70 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 120.9% compared to the same quarter last year. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal 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.