Charles Schwab Investment Management Inc. Reduces Stock Position in Coeur Mining, Inc. (NYSE:CDE)

Charles Schwab Investment Management Inc. trimmed its holdings in Coeur Mining, Inc. (NYSE:CDE) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,593,094 shares of the basic materials company’s stock after selling 161,545 shares during the period. Charles Schwab Investment Management Inc. owned 1.15% of Coeur Mining worth $31,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CDE. American Century Companies Inc. boosted its stake in Coeur Mining by 248.1% in 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 buying an additional 4,606,711 shares during the last quarter. M&G Plc acquired a new position in shares of Coeur Mining in the 2nd quarter valued at about $9,966,000. Renaissance Technologies LLC acquired a new position in shares of Coeur Mining in the 2nd quarter valued at about $4,822,000. Cubist Systematic Strategies LLC acquired a new position in shares of Coeur Mining in the 2nd quarter valued at about $2,382,000. Finally, Van ECK Associates Corp lifted its stake in shares of Coeur Mining by 1.1% in the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after purchasing an additional 365,115 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Up 8.6 %

Shares of Coeur Mining stock opened at $6.72 on Wednesday. The stock’s fifty day moving average is $6.60 and its 200-day moving average is $6.20. The firm has a market capitalization of $2.68 billion, a PE ratio of -223.93 and a beta of 1.60. 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, Inc. has a 12-month low of $2.42 and a 12-month high of $7.72.

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

Wall Street Analysts Forecast Growth

CDE has been the topic of several analyst reports. BMO Capital Markets lifted their price objective 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 boosted their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.