JPMorgan Chase & Co. Has $9.76 Million Holdings in Coeur Mining, Inc. (NYSE:CDE)

JPMorgan Chase & Co. raised its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 88.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,418,716 shares of the basic materials company’s stock after purchasing an additional 665,452 shares during the period. JPMorgan Chase & Co.’s holdings in Coeur Mining were worth $9,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDE. American Century Companies Inc. grew its holdings in shares of 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 valued at $36,325,000 after acquiring an additional 4,606,711 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Coeur Mining in the second quarter worth $4,822,000. Cubist Systematic Strategies LLC bought a new position in Coeur Mining in the 2nd quarter valued at $2,382,000. Van ECK Associates Corp increased its position 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 valued at $251,629,000 after purchasing an additional 365,115 shares during the last quarter. Finally, U S Global Investors Inc. increased its position in shares of Coeur Mining by 160.4% during the 3rd quarter. U S Global Investors Inc. now owns 586,000 shares of the basic materials company’s stock valued at $4,032,000 after purchasing an additional 361,000 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Price Performance

CDE opened at $5.96 on Tuesday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -198.60 and a beta of 1.60. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $6.31 and a 200-day moving average price of $6.33. Coeur Mining, Inc. has a twelve month low of $2.42 and a twelve month high of $7.72.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The business’s revenue for the quarter was up 61.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. Equities analysts expect that Coeur Mining, Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CDE. BMO Capital Markets boosted their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Raymond James boosted their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. 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. Finally, StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.81.

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.