Dark Forest Capital Management LP Acquires 11,651 Shares of Coeur Mining, Inc. (NYSE:CDE)

Dark Forest Capital Management LP lifted its stake in Coeur Mining, Inc. (NYSE:CDE) by 31.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,091 shares of the basic materials company’s stock after purchasing an additional 11,651 shares during the period. Dark Forest Capital Management LP’s holdings in Coeur Mining were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. CWM LLC boosted its position in shares of Coeur Mining by 831.5% during the second quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 4,490 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Coeur Mining during the second quarter worth about $49,000. Hohimer Wealth Management LLC acquired a new position in Coeur Mining in the second quarter valued at about $57,000. WINTON GROUP Ltd bought a new stake in shares of Coeur Mining in the second quarter worth about $57,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Coeur Mining during the second quarter worth about $59,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Coeur Mining Trading Down 5.1 %

NYSE:CDE opened at $7.13 on Monday. The company has a market cap of $2.85 billion, a P/E ratio of -23.00 and a beta of 1.64. Coeur Mining, Inc. has a twelve month low of $2.00 and a twelve month high of $7.72. The business has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $5.50. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate 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 business had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. As a group, analysts expect that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

About Coeur Mining

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.