Bank of New York Mellon Corp Acquires 235,667 Shares of Coeur Mining, Inc. (NYSE:CDE)

Bank of New York Mellon Corp raised its stake in Coeur Mining, Inc. (NYSE:CDE) by 18.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,521,079 shares of the basic materials company’s stock after acquiring an additional 235,667 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Coeur Mining worth $8,548,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp increased its position in shares of Coeur Mining by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock valued at $145,616,000 after purchasing an additional 2,345,791 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Coeur Mining by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after acquiring an additional 3,989,352 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Coeur Mining by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock valued at $52,445,000 after acquiring an additional 84,920 shares during the period. Tidal Investments LLC bought a new position in Coeur Mining in the 1st quarter valued at $41,587,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Coeur Mining by 9.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,561,874 shares of the basic materials company’s stock worth $14,871,000 after purchasing an additional 408,122 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDE. Roth Mkm reaffirmed a “buy” rating and set a $8.00 price target (up previously from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. Raymond James lifted their price target on Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday, August 9th. BMO Capital Markets increased their price target on shares of Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.44.

Coeur Mining Price Performance

Shares of CDE opened at $5.35 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. The company’s fifty day moving average price is $6.05 and its 200-day moving average price is $5.13. Coeur Mining, Inc. has a 1-year low of $2.00 and a 1-year high of $6.82. The firm has a market capitalization of $2.13 billion, a PE ratio of -17.24 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The business had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The company’s revenue was up 25.3% on a year-over-year basis. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current 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.