Rhumbline Advisers Buys 96,536 Shares of Coeur Mining, Inc. (NYSE:CDE)

Rhumbline Advisers boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 17.8% during the second quarter, Holdings Channel.com reports. The fund owned 638,343 shares of the basic materials company’s stock after acquiring an additional 96,536 shares during the period. Rhumbline Advisers’ holdings in Coeur Mining were worth $3,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDE. Tidal Investments LLC acquired a new stake in shares of Coeur Mining during the 1st quarter worth $41,587,000. Vanguard Group Inc. lifted its position in Coeur Mining by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after purchasing an additional 3,989,352 shares during the period. Van ECK Associates Corp grew its stake in Coeur Mining by 6.5% during the first quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after buying an additional 2,345,791 shares in the last quarter. M&G Plc bought a new position in Coeur Mining in the 2nd quarter valued at about $9,966,000. Finally, TSP Capital Management Group LLC raised its position in shares of Coeur Mining by 214.3% in the 1st quarter. TSP Capital Management Group LLC now owns 942,800 shares of the basic materials company’s stock valued at $3,554,000 after buying an additional 642,800 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Trading Down 0.7 %

Shares of CDE stock opened at $6.97 on Wednesday. Coeur Mining, Inc. has a twelve month low of $2.00 and a twelve month high of $7.31. The stock’s fifty day simple moving average is $6.11 and its 200 day simple moving average is $5.27. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.78 billion, a P/E ratio of -22.48 and a beta of 1.64.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company had revenue of $222.03 million for the quarter, compared to analysts’ expectations of $242.18 million. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDE. Roth Mkm reiterated a “buy” rating and set a $8.00 price target (up previously from $7.25) on shares of Coeur Mining in a research report on Friday, August 9th. BMO Capital Markets lifted their price target on Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a research note on Friday, July 12th. Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Raymond James raised their price objective on Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.44.

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.