Algert Global LLC Cuts Holdings in Coeur Mining, Inc. (NYSE:CDE)

Algert Global LLC cut its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 45.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,404 shares of the basic materials company’s stock after selling 132,727 shares during the quarter. Algert Global LLC’s holdings in Coeur Mining were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDE. Russell Investments Group Ltd. boosted its holdings in Coeur Mining by 32.4% during 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 last quarter. American International Group Inc. boosted its stake in Coeur Mining by 7.4% in the first quarter. American International Group Inc. now owns 176,892 shares of the basic materials company’s stock valued at $667,000 after acquiring an additional 12,211 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Coeur Mining by 6.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 333,840 shares of the basic materials company’s stock valued at $1,259,000 after acquiring an additional 19,222 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Coeur Mining by 18.5% in the first quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock valued at $10,254,000 after acquiring an additional 424,835 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Coeur Mining by 7.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 101,216 shares of the basic materials company’s stock valued at $382,000 after acquiring an additional 7,000 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Stock Performance

NYSE CDE opened at $6.49 on Friday. The company’s 50 day moving average is $6.64 and its 200-day moving average is $6.16. Coeur Mining, Inc. has a 12-month low of $2.42 and a 12-month high of $7.72. 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 market cap of $2.59 billion, a P/E ratio of -216.26 and a beta of 1.65.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business 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 quarter in the prior year, the firm posted ($0.05) EPS. Sell-side analysts predict that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Canaccord Genuity Group boosted their target price on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus 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.