Quantitative Investment Management LLC Trims Stock Holdings in Coeur Mining, Inc. $CDE

Quantitative Investment Management LLC lowered its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 62.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,448 shares of the basic materials company’s stock after selling 25,241 shares during the period. Quantitative Investment Management LLC’s holdings in Coeur Mining were worth $252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in Coeur Mining by 20.9% in the 4th quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 517 shares in the last quarter. Grand Central Investment Group grew its holdings in shares of Coeur Mining by 1.5% during the first quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company’s stock worth $760,000 after buying an additional 612 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Coeur Mining by 7.5% in the first quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company’s stock valued at $222,000 after buying an additional 820 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Coeur Mining by 105.0% in the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock valued at $26,000 after buying an additional 820 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its stake in shares of Coeur Mining by 2.8% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company’s stock valued at $608,000 after buying an additional 935 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

NYSE:CDE opened at $21.42 on Thursday. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The company has a market cap of $22.02 billion, a P/E ratio of 18.31 and a beta of 1.38. Coeur Mining, Inc. has a fifty-two week low of $13.55 and a fifty-two week high of $27.77. The firm’s 50 day moving average is $17.39 and its two-hundred day moving average is $18.80.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The firm’s quarterly revenue was up 125.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts expect that Coeur Mining, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, Director J Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total transaction of $519,250.00. Following the completion of the sale, the director directly owned 257,333 shares in the company, valued at $5,344,806.41. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas S. Whelan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,000 shares of company stock valued at $844,470. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CDE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Scotiabank decreased their price objective on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Roth Capital set a $19.00 price objective on Coeur Mining in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.