First Eagle Investment Management LLC Lowers Position in Coeur Mining, Inc. $CDE

First Eagle Investment Management LLC lowered its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 19.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,994,230 shares of the basic materials company’s stock after selling 469,748 shares during the period. First Eagle Investment Management LLC’s holdings in Coeur Mining were worth $17,669,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BFI Infinity Ltd. increased its holdings in shares of Coeur Mining by 3.2% during the 2nd quarter. BFI Infinity Ltd. now owns 43,560 shares of the basic materials company’s stock worth $386,000 after buying an additional 1,355 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Coeur Mining by 7.2% in the second quarter. Janney Montgomery Scott LLC now owns 23,702 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 1,602 shares during the last quarter. Plancorp LLC boosted its holdings in Coeur Mining by 0.5% in the first quarter. Plancorp LLC now owns 300,790 shares of the basic materials company’s stock valued at $1,781,000 after acquiring an additional 1,617 shares during the last quarter. Ballentine Partners LLC grew its position in Coeur Mining by 13.8% during the second quarter. Ballentine Partners LLC now owns 15,035 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 1,818 shares during the period. Finally, Freedom Investment Management Inc. increased its stake in Coeur Mining by 3.6% during the first quarter. Freedom Investment Management Inc. now owns 64,444 shares of the basic materials company’s stock worth $382,000 after acquiring an additional 2,253 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Roth Capital set a $20.00 price target on shares of Coeur Mining and gave the company a “buy” rating in a research report on Friday, October 3rd. Cormark lowered shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Coeur Mining in a research note on Thursday, October 30th. Finally, Wall Street Zen cut shares of Coeur Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $13.75.

Coeur Mining Trading Up 1.7%

CDE opened at $14.43 on Friday. The firm’s 50 day moving average is $17.51 and its 200-day moving average is $11.87. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $23.61. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $9.27 billion, a P/E ratio of 21.86 and a beta of 1.21.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The firm had revenue of $554.57 million for the quarter, compared to analyst estimates of $511.20 million. During the same period in the previous year, the business posted $0.12 earnings per share. Coeur Mining’s revenue for the quarter was up 76.9% on a year-over-year basis. Analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Coeur Mining news, CEO Mitchell J. Krebs sold 125,000 shares of Coeur Mining stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the sale, the chief executive officer directly owned 2,197,309 shares in the company, valued at $32,190,576.85. The trade was a 5.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $12.00, for a total value of $1,227,084.00. Following the transaction, the senior vice president owned 568,623 shares of the company’s stock, valued at approximately $6,823,476. This trade represents a 15.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 360,257 shares of company stock worth $4,971,854. 1.56% of the stock is currently owned by corporate insiders.

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.