Coeur Mining, Inc. (NYSE:CDE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in Coeur Mining, Inc. (NYSE:CDE) by 6.6% during the third quarter, HoldingsChannel reports. The fund owned 751,033 shares of the basic materials company’s stock after selling 53,150 shares during the period. Bank of Montreal Can’s holdings in Coeur Mining were worth $5,355,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Navellier & Associates Inc. purchased a new position in Coeur Mining during the 3rd quarter worth approximately $294,000. Landscape Capital Management L.L.C. purchased a new position in shares of Coeur Mining in the 3rd quarter valued at approximately $388,000. Intech Investment Management LLC purchased a new position in shares of Coeur Mining in the 3rd quarter valued at approximately $642,000. Jennison Associates LLC purchased a new position in shares of Coeur Mining in the 3rd quarter valued at approximately $579,000. Finally, Aigen Investment Management LP grew its stake in shares of Coeur Mining by 415.4% in the 3rd quarter. Aigen Investment Management LP now owns 103,886 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 83,730 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price target on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Raymond James raised their price target on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Roth Mkm reissued a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Finally, StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Performance

Shares of CDE stock opened at $6.72 on Wednesday. The stock has a fifty day moving average price of $6.60 and a 200 day moving average price of $6.20. The stock has a market cap of $2.68 billion, a PE ratio of -223.93 and a beta of 1.60. Coeur Mining, Inc. has a 1 year low of $2.42 and a 1 year high of $7.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. Coeur Mining’s revenue was up 61.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Sell-side analysts forecast that Coeur Mining, Inc. will post 0.15 earnings per share 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.