Coeur Mining, Inc. (NYSE:CDE) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,833,850 shares of the basic materials company’s stock after buying an additional 72,423 shares during the quarter. Millennium Management LLC owned approximately 0.71% of Coeur Mining worth $15,926,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Coeur Mining by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after acquiring an additional 2,345,791 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Coeur Mining by 12.5% during the fourth 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 purchased a new position in Coeur Mining in the first quarter valued at $41,587,000. American Century Companies Inc. raised its stake in Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after buying an additional 4,606,711 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Coeur Mining by 18.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,723,185 shares of the basic materials company’s stock worth $10,254,000 after buying an additional 424,835 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDE. BMO Capital Markets increased their price objective on Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Roth Mkm increased their price target on shares of Coeur Mining from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Raymond James increased their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.83.

Coeur Mining Stock Performance

NYSE CDE opened at $6.41 on Friday. The business’s 50-day moving average price is $6.25 and its 200 day moving average price is $5.61. The company has a quick ratio of 0.45, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.56 billion, a P/E ratio of -20.68 and a beta of 1.65. Coeur Mining, Inc. has a 52-week low of $2.00 and a 52-week high of $7.72.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The business had revenue of $222.03 million during the quarter, compared to analysts’ expectations of $242.18 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts expect that Coeur Mining, Inc. will post 0.08 earnings per share for the current year.

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.