Navellier & Associates Inc. Reduces Stock Holdings in Coeur Mining, Inc. $CDE

Navellier & Associates Inc. lowered its stake in Coeur Mining, Inc. (NYSE:CDE) by 78.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,909 shares of the basic materials company’s stock after selling 223,975 shares during the period. Navellier & Associates Inc.’s holdings in Coeur Mining were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CDE. AQR Capital Management LLC boosted its stake in shares of Coeur Mining by 60.2% during the 1st quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock valued at $4,434,000 after purchasing an additional 281,489 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Coeur Mining by 18.1% during 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Coeur Mining by 122.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock worth $14,393,000 after buying an additional 1,339,138 shares in the last quarter. Focus Partners Wealth bought a new position in Coeur Mining in the first quarter worth about $60,000. Finally, Intech Investment Management LLC lifted its holdings in Coeur Mining by 58.4% in the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after buying an additional 99,256 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Thomas S. Whelan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the sale, the chief accounting officer directly owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,000 shares of company stock valued at $1,569,870 over the last ninety days. Insiders own 0.90% of the company’s stock.

Coeur Mining Stock Performance

Coeur Mining stock opened at $21.24 on Friday. Coeur Mining, Inc. has a twelve month low of $12.54 and a twelve month high of $27.77. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $21.83 billion, a P/E ratio of 18.15 and a beta of 1.32. The stock’s 50 day moving average is $17.13 and its 200 day moving average is $18.86.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 125.8% compared to the same quarter last year. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDE has been the topic of several research reports. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Thursday, May 7th. Roth Capital set a $19.00 target price on Coeur Mining in a research note on Friday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Finally, Scotiabank reduced their price target on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Coeur Mining presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

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.