Shah Capital Management cut its stake in Coeur Mining Inc. (NYSE:CDE) by 19.7% during the third quarter, Holdings Channel reports. The fund owned 1,798,525 shares of the company’s stock after selling 441,650 shares during the period. Coeur Mining comprises about 11.9% of Shah Capital Management’s investment portfolio, making the stock its 3rd largest position. Shah Capital Management’s holdings in Coeur Mining were worth $21,276,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CDE. Van ECK Associates Corp increased its position in shares of Coeur Mining by 149.6% in the second quarter. Van ECK Associates Corp now owns 21,020,524 shares of the company’s stock valued at $224,079,000 after buying an additional 12,598,170 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Coeur Mining by 2.8% in the second quarter. Vanguard Group Inc. now owns 10,965,958 shares of the company’s stock valued at $116,897,000 after buying an additional 293,836 shares during the last quarter. GMT Capital Corp increased its position in shares of Coeur Mining by 23.8% in the second quarter. GMT Capital Corp now owns 6,536,489 shares of the company’s stock valued at $69,679,000 after buying an additional 1,258,405 shares during the last quarter. State Street Corp increased its position in shares of Coeur Mining by 10.3% in the first quarter. State Street Corp now owns 6,231,980 shares of the company’s stock valued at $35,027,000 after buying an additional 582,163 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Coeur Mining by 16.5% in the second quarter. BlackRock Fund Advisors now owns 3,875,730 shares of the company’s stock valued at $41,315,000 after buying an additional 549,240 shares during the last quarter. 69.47% of the stock is currently owned by institutional investors.
Coeur Mining Inc. (NYSE:CDE) opened at 11.04 on Thursday. Coeur Mining Inc. has a 52 week low of $1.62 and a 52 week high of $16.41. The company’s market cap is $1.79 billion. The company has a 50-day moving average of $12.50 and a 200-day moving average of $10.64.
Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The company had revenue of $182 million for the quarter, compared to analyst estimates of $173.92 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. Coeur Mining’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Coeur Mining Inc. will post $0.35 EPS for the current year.
Several research analysts recently commented on CDE shares. CIBC raised shares of Coeur Mining from a “sector underperform” rating to a “sector perform” rating in a research note on Tuesday, August 30th. Zacks Investment Research cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Deutsche Bank AG reiterated a “sell” rating on shares of Coeur Mining in a report on Wednesday, July 20th. Roth Capital reiterated a “buy” rating on shares of Coeur Mining in a report on Monday, June 27th. Finally, Barclays PLC lifted their price target on shares of Coeur Mining and gave the company an “outperform” rating in a report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $8.57.
In related news, CFO Peter C. Mitchell sold 16,157 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $15.88, for a total transaction of $256,573.16. Following the sale, the chief financial officer now owns 270,260 shares in the company, valued at approximately $4,291,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter C. Mitchell sold 10,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $12.55, for a total value of $125,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company’s stock.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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