State Street Corp Sells 1,810,686 Shares of Coeur Mining, Inc. (NYSE:CDE)

State Street Corp lowered its stake in Coeur Mining, Inc. (NYSE:CDE) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,190,095 shares of the basic materials company’s stock after selling 1,810,686 shares during the quarter. State Street Corp’s holdings in Coeur Mining were worth $118,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC increased its stake in Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after buying an additional 4,490 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Coeur Mining in the second quarter worth about $49,000. Hohimer Wealth Management LLC purchased a new stake in shares of Coeur Mining during the second quarter worth about $57,000. WINTON GROUP Ltd bought a new stake in Coeur Mining during the 2nd quarter valued at approximately $57,000. Finally, CIBC Asset Management Inc purchased a new position in Coeur Mining in the 2nd quarter worth approximately $59,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

Coeur Mining stock opened at $6.56 on Monday. Coeur Mining, Inc. has a 52-week low of $2.42 and a 52-week 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’s fifty day moving average is $6.57 and its 200 day moving average is $6.27. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -218.67 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last announced its earnings results 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. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The firm had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $289.19 million. During the same period in the prior year, the company earned ($0.05) EPS. The business’s revenue was up 61.1% compared to the same quarter last year. Sell-side analysts forecast that Coeur Mining, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDE. Roth Mkm reaffirmed a “buy” rating and set a $8.50 price objective (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted 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. Raymond James increased their price objective 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. Finally, StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.