Cubist Systematic Strategies LLC Takes $2.38 Million Position in Coeur Mining, Inc. (NYSE:CDE)

Cubist Systematic Strategies LLC acquired a new position in Coeur Mining, Inc. (NYSE:CDE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 423,822 shares of the basic materials company’s stock, valued at approximately $2,382,000.

Several other institutional investors and hedge funds have also modified their holdings of CDE. Ballentine Partners LLC raised its holdings in Coeur Mining by 18.3% in the 2nd quarter. Ballentine Partners LLC now owns 14,435 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 2,232 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Coeur Mining by 12.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 35,796 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 4,030 shares during the period. CWM LLC grew its stake in shares of Coeur Mining by 831.5% during the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 4,490 shares during the period. Marotta Asset Management increased its holdings in Coeur Mining by 50.0% in the 1st quarter. Marotta Asset Management now owns 15,000 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Coeur Mining by 32.4% during the 1st quarter. Russell Investments Group Ltd. now owns 24,337 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 5,956 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. BMO Capital Markets upped their price objective on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Roth Mkm lifted their target price on Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Raymond James increased their price objective on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.83.

Coeur Mining Stock Performance

NYSE CDE opened at $7.13 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. Coeur Mining, Inc. has a 1-year low of $2.00 and a 1-year high of $7.72. The business has a 50 day simple moving average of $6.20 and a two-hundred day simple moving average of $5.50. The stock has a market capitalization of $2.85 billion, a PE ratio of -23.00 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share 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 firm had revenue of $222.03 million during the quarter, compared to analyst estimates of $242.18 million. During the same period last year, the firm posted ($0.06) earnings per share. Coeur Mining’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, research analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Coeur Mining 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.