Salem Investment Counselors Inc. Cuts Stake in Coeur Mining, Inc. (NYSE:CDE)

Salem Investment Counselors Inc. decreased its position in Coeur Mining, Inc. (NYSE:CDE) by 95.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,250 shares of the basic materials company’s stock after selling 329,350 shares during the period. Salem Investment Counselors Inc.’s holdings in Coeur Mining were worth $87,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Coeur Mining by 139.8% in the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after buying an additional 3,359 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Coeur Mining in the 2nd quarter worth approximately $49,000. CWM LLC lifted its position in Coeur Mining by 93.2% in the 3rd quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 4,686 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Coeur Mining during the 2nd quarter valued at $57,000. Finally, SPC Financial Inc. bought a new stake in shares of Coeur Mining in the 2nd quarter worth $65,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

NYSE CDE opened at $6.33 on Wednesday. The company has a 50-day moving average price of $6.31 and a 200-day moving average price of $6.33. 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. The firm has a market capitalization of $2.53 billion, a P/E ratio of -210.93 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $289.19 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was up 61.1% compared to the same quarter last year. Equities research analysts anticipate that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. BMO Capital Markets upped their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. 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. Canaccord Genuity Group boosted their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Roth Mkm restated a “buy” rating and issued a $8.50 target price (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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.81.

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.