State Street Corp Lowers Position in Coeur Mining, Inc. (NYSE:CDE)

State Street Corp decreased its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,190,095 shares of the basic materials company's stock after selling 1,810,686 shares during the period. State Street Corp owned approximately 4.31% of Coeur Mining worth $118,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in Coeur Mining by 831.5% during 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. purchased a new position in shares of Coeur Mining during the 2nd quarter valued at approximately $49,000. Hohimer Wealth Management LLC purchased a new stake in Coeur Mining during the second quarter worth $57,000. WINTON GROUP Ltd acquired a new stake in Coeur Mining during the second quarter valued at $57,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Coeur Mining during the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analyst Weigh In

CDE has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Coeur Mining from $7.50 to $8.00 and gave the company an "outperform" rating in a research report on Monday, September 23rd. Canaccord Genuity Group upped their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. 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. Roth Mkm restated a "buy" rating and set a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Coeur Mining from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Two 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. According to data from MarketBeat.com, Coeur Mining presently has an average rating of "Moderate Buy" and a consensus target price of $7.81.

Coeur Mining Price Performance

Shares of NYSE:CDE traded down $0.25 during midday trading on Monday, hitting $6.31. The company's stock had a trading volume of 6,552,439 shares, compared to its average volume of 8,038,390. The company has a market cap of $2.52 billion, a P/E ratio of -218.67 and a beta of 1.60. Coeur Mining, Inc. has a 12-month low of $2.42 and a 12-month high of $7.72. The business's 50 day simple moving average is $6.57 and its 200 day simple moving average is $6.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09.

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

Coeur Mining 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.