Franklin Resources Inc. Purchases Shares of 65,863 Coeur Mining, Inc. (NYSE:CDE)

Franklin Resources Inc. purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) during the third quarter, according to its most recent filing with the SEC. The fund purchased 65,863 shares of the basic materials company’s stock, valued at approximately $423,000.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Coeur Mining during the 3rd quarter valued at about $119,000. Geode Capital Management LLC increased its holdings in Coeur Mining by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after purchasing an additional 89,863 shares during the period. Barclays PLC lifted its stake in Coeur Mining by 59.2% in the third quarter. Barclays PLC now owns 962,652 shares of the basic materials company’s stock worth $6,624,000 after acquiring an additional 358,097 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Coeur Mining by 19.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 157,322 shares of the basic materials company’s stock valued at $1,082,000 after buying an additional 25,878 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Coeur Mining in the 3rd quarter worth $1,311,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets raised their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Canaccord Genuity Group increased their price target on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Roth Mkm restated a “buy” rating and issued a $8.50 price objective (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Performance

Shares of Coeur Mining stock opened at $5.72 on Wednesday. The business’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $6.30. The firm has a market cap of $2.28 billion, a PE ratio of -190.60 and a beta of 1.60. Coeur Mining, Inc. has a 52 week low of $2.42 and a 52 week high of $7.72. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The company had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. During the same period in the prior year, the business earned ($0.05) EPS. The firm’s quarterly revenue was up 61.1% on a year-over-year basis. Equities analysts forecast that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

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.