The Manufacturers Life Insurance Company Buys 51,474 Shares of Coeur Mining, Inc. (NYSE:CDE)

The Manufacturers Life Insurance Company grew its stake in Coeur Mining, Inc. (NYSE:CDE) by 29.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,406 shares of the basic materials company’s stock after acquiring an additional 51,474 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Coeur Mining worth $1,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Coeur Mining by 6.5% in the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock valued at $145,616,000 after acquiring an additional 2,345,791 shares during the last quarter. Vanguard Group Inc. increased its stake in Coeur Mining by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after purchasing an additional 3,989,352 shares in the last quarter. Tidal Investments LLC bought a new stake in Coeur Mining during the 1st quarter worth approximately $41,587,000. American Century Companies Inc. increased its stake in Coeur Mining by 248.1% during the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Coeur Mining by 2.6% during the 2nd quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after purchasing an additional 72,423 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James increased their target price on 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 increased their target price on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research note on Tuesday. Roth Mkm increased their target price on Coeur Mining from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets increased their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Finally, Cantor Fitzgerald downgraded Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Trading Down 0.2 %

NYSE CDE opened at $6.39 on Friday. The company has a market cap of $2.55 billion, a PE ratio of -20.60 and a beta of 1.65. The company has a current ratio of 1.20, a quick ratio of 0.45 and a debt-to-equity ratio of 0.59. Coeur Mining, Inc. has a 12 month low of $2.00 and a 12 month high of $7.72. The stock has a 50 day moving average of $6.25 and a 200-day moving average of $5.68.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.11 EPS for the current fiscal 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.