Highland Capital Management LLC Makes New Investment in Coeur Mining, Inc. (NYSE:CDE)

Highland Capital Management LLC purchased a new position in Coeur Mining, Inc. (NYSE:CDE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,806 shares of the basic materials company’s stock, valued at approximately $150,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in Coeur Mining by 18.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock worth $10,254,000 after buying an additional 424,835 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Coeur Mining by 149.1% in the 1st quarter. BNP Paribas Financial Markets now owns 323,988 shares of the basic materials company’s stock worth $1,221,000 after buying an additional 193,912 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Coeur Mining by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock valued at $116,885,000 after purchasing an additional 3,989,352 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Coeur Mining by 247.7% in the 1st quarter. SG Americas Securities LLC now owns 113,038 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 80,531 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Coeur Mining by 84.6% in the 2nd quarter. AQR Capital Management LLC now owns 487,609 shares of the basic materials company’s stock valued at $2,740,000 after purchasing an additional 223,529 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Performance

Coeur Mining stock opened at $6.80 on Monday. The stock’s 50 day moving average price is $6.54 and its 200 day moving average price is $5.90. The firm has a market capitalization of $2.72 billion, a PE ratio of -21.94 and a beta of 1.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20. Coeur Mining, Inc. has a one year low of $2.00 and a one year high of $7.72.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. Coeur Mining’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDE has been the topic of several research analyst reports. Raymond James lifted their price objective on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. Cantor Fitzgerald lowered Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Canaccord Genuity Group lifted their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets lifted their price objective on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Finally, Roth Mkm lifted their price objective on Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of “Moderate Buy” and an average price target of $7.81.

About Coeur Mining

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.