Renaissance Technologies LLC Makes New Investment in Coeur Mining, Inc. (NYSE:CDE)

Renaissance Technologies LLC purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 858,095 shares of the basic materials company’s stock, valued at approximately $4,822,000. Renaissance Technologies LLC owned about 0.21% of Coeur Mining as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CDE. Ballentine Partners LLC grew its position in shares of Coeur Mining by 18.3% during the 2nd quarter. Ballentine Partners LLC now owns 14,435 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 2,232 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Coeur Mining by 12.7% during the first quarter. Ameritas Investment Partners Inc. now owns 35,796 shares of the basic materials company’s stock valued at $135,000 after buying an additional 4,030 shares during the period. CWM LLC grew its holdings in Coeur Mining by 831.5% in the second 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 period. Marotta Asset Management grew its holdings in Coeur Mining by 50.0% in the first quarter. Marotta Asset Management now owns 15,000 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 5,000 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Coeur Mining by 32.4% in the first quarter. Russell Investments Group Ltd. now owns 24,337 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 5,956 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

Shares of NYSE CDE opened at $7.14 on Friday. The firm’s fifty day moving average is $6.18 and its two-hundred day moving average is $5.44. Coeur Mining, Inc. has a 52-week low of $2.00 and a 52-week high of $7.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20. The company has a market cap of $2.85 billion, a P/E ratio of -23.03 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. Coeur Mining had a negative net margin of 8.33% and a negative return on equity of 4.59%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. As a group, analysts anticipate that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDE. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Raymond James increased their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. BMO Capital Markets increased their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Roth Mkm increased their price target on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.83.

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.