MetLife Investment Management LLC Has $1.54 Million Position in Coeur Mining, Inc. (NYSE:CDE)

MetLife Investment Management LLC cut its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 224,280 shares of the basic materials company’s stock after selling 3,792 shares during the quarter. MetLife Investment Management LLC’s holdings in Coeur Mining were worth $1,543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDE. Van ECK Associates Corp grew its holdings in shares of Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after purchasing an additional 365,115 shares in the last quarter. American Century Companies Inc. lifted its position in Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the period. Millennium Management LLC boosted its stake in Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after buying an additional 72,423 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Coeur Mining by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,453,721 shares of the basic materials company’s stock valued at $13,790,000 after buying an additional 93,500 shares during the period. Finally, M&G Plc acquired a new position in shares of Coeur Mining in the 2nd quarter valued at $9,966,000. 63.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDE. Roth Mkm reiterated a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Canaccord Genuity Group upped their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets increased 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Up 1.8 %

Shares of CDE opened at $6.80 on Friday. The business’s 50 day simple moving average is $6.57 and its 200-day simple moving average is $6.21. Coeur Mining, Inc. has a one year low of $2.42 and a one year high of $7.72. The company has a market capitalization of $2.71 billion, a P/E ratio of -226.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The company had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $289.19 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 61.1% on a year-over-year basis. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 0.15 EPS for the current fiscal year.

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.