The Manufacturers Life Insurance Company Decreases Stock Position in Coeur Mining, Inc. (NYSE:CDE)

The Manufacturers Life Insurance Company trimmed its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 222,741 shares of the basic materials company’s stock after selling 3,665 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coeur Mining were worth $1,532,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Coeur Mining by 831.5% during the 2nd 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 during the last quarter. Oak Family Advisors LLC acquired a new stake in Coeur Mining during the 2nd quarter worth $97,000. U S Global Investors Inc. boosted its stake in Coeur Mining by 50.0% during the 2nd quarter. U S Global Investors Inc. now owns 225,000 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 75,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Coeur Mining by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,521,079 shares of the basic materials company’s stock worth $8,548,000 after purchasing an additional 235,667 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Coeur Mining by 13.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,684 shares of the basic materials company’s stock worth $571,000 after purchasing an additional 12,259 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Down 1.5 %

Shares of CDE opened at $7.00 on Wednesday. The firm has a market cap of $2.79 billion, a P/E ratio of -232.92 and a beta of 1.60. Coeur Mining, Inc. has a 12-month low of $2.42 and a 12-month high of $7.72. The company’s 50-day moving average price is $6.57 and its 200 day moving average price is $6.23. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53.

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, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. Coeur Mining’s revenue was up 61.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDE has been the topic of several recent research reports. BMO Capital Markets lifted their target price on shares of 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 raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Raymond James boosted their price target 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. Roth Mkm reissued a “buy” rating and set a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.81.

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.