National Bank of Canada FI Lowers Stake in Coeur Mining, Inc. (NYSE:CDE)

National Bank of Canada FI reduced its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 777,894 shares of the basic materials company’s stock after selling 80,219 shares during the quarter. National Bank of Canada FI owned 0.19% of Coeur Mining worth $4,201,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. CWM LLC lifted its stake in Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after buying an additional 4,490 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in Coeur Mining in the 2nd quarter valued at about $57,000. CIBC Asset Management Inc acquired a new stake in Coeur Mining in the 2nd quarter valued at about $59,000. Ballentine Partners LLC acquired a new stake in shares of Coeur Mining during the 1st quarter worth approximately $46,000. Finally, Forum Financial Management LP acquired a new stake in shares of Coeur Mining during the 4th quarter worth approximately $40,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

Shares of CDE opened at $5.35 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The stock has a market cap of $2.13 billion, a PE ratio of -17.24 and a beta of 1.64. Coeur Mining, Inc. has a 1-year low of $2.00 and a 1-year high of $6.82. The firm has a fifty day moving average price of $6.05 and a 200 day moving average price of $5.13.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The company had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. During the same period in the previous year, the business posted ($0.06) earnings per share. Coeur Mining’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $8.00 price target (up previously from $7.25) on shares of Coeur Mining in a report on Friday, August 9th. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Raymond James raised their price target on shares of Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets lifted their price objective on shares of Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.44.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.