Jennison Associates LLC Invests $579,000 in Coeur Mining, Inc. (NYSE:CDE)

Jennison Associates LLC purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,089 shares of the basic materials company's stock, valued at approximately $579,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDE. CWM LLC grew its position 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 purchasing an additional 4,490 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Coeur Mining in the 2nd quarter worth approximately $49,000. Hohimer Wealth Management LLC bought a new stake in Coeur Mining in the 2nd quarter worth approximately $57,000. WINTON GROUP Ltd bought a new stake in Coeur Mining in the 2nd quarter worth approximately $57,000. Finally, CIBC Asset Management Inc bought a new stake in Coeur Mining in the 2nd quarter worth approximately $59,000. Institutional investors own 63.01% of the company's stock.

Coeur Mining Price Performance

Shares of CDE traded down $0.28 during trading hours on Monday, reaching $6.30. 7,849,497 shares of the stock traded hands, compared to its average volume of 7,960,104. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. Coeur Mining, Inc. has a 52-week low of $2.42 and a 52-week high of $7.72. The company's 50-day moving average price is $6.66 and its two-hundred day moving average price is $6.15. The company has a market cap of $2.51 billion, a P/E ratio of -209.83 and a beta of 1.65.

Coeur Mining (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. The company had revenue of $313.50 million for the quarter, compared to analysts' expectations 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 for the quarter was up 61.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, analysts anticipate that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDE has been the topic of several analyst reports. Cantor Fitzgerald upgraded shares of Coeur Mining from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Coeur Mining from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Raymond James lifted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a "market perform" rating in a research note on Friday, September 20th. Roth Mkm reiterated a "buy" rating and set a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Finally, BMO Capital Markets lifted their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.