First Eagle Investment Management LLC Sells 339,014 Shares of Coeur Mining, Inc. $CDE

First Eagle Investment Management LLC trimmed its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 17.0% during the third quarter, HoldingsChannel reports. The fund owned 1,655,216 shares of the basic materials company’s stock after selling 339,014 shares during the period. First Eagle Investment Management LLC’s holdings in Coeur Mining were worth $31,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in shares of Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after acquiring an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Coeur Mining by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company’s stock worth $132,732,000 after purchasing an additional 288,626 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Coeur Mining by 212.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company’s stock worth $91,446,000 after purchasing an additional 7,013,222 shares in the last quarter. Sprott Inc. boosted its holdings in shares of Coeur Mining by 2.0% in the 3rd quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company’s stock valued at $172,743,000 after buying an additional 176,388 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Coeur Mining by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after buying an additional 1,278,110 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $26.98 on Tuesday. The business’s 50 day moving average is $21.95 and its 200-day moving average is $18.33. The firm has a market cap of $17.33 billion, a P/E ratio of 31.01 and a beta of 1.16. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $27.77. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.10.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business had revenue of $674.85 million during the quarter, compared to the consensus estimate of $668.70 million. During the same period in the previous year, the firm posted $0.11 EPS. The company’s revenue was up 120.9% compared to the same quarter last year. Equities research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

CDE has been the subject of a number of recent analyst reports. TD Securities increased their price target on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a report on Monday, December 1st. Weiss Ratings lowered Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen upgraded Coeur Mining from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Roth Mkm restated a “buy” rating and issued a $29.00 price target on shares of Coeur Mining in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.88.

Coeur Mining Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.