Point72 Asia Singapore Pte. Ltd. Takes $49,000 Position in Coeur Mining, Inc. (NYSE:CDE)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,680 shares of the basic materials company’s stock, valued at approximately $49,000.

Several other hedge funds have also recently made changes to their positions in CDE. Tidal Investments LLC purchased a new position in shares of Coeur Mining during the first quarter valued at approximately $41,587,000. American Century Companies Inc. grew 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 worth $36,325,000 after purchasing an additional 4,606,711 shares during the period. Vanguard Group Inc. grew its stake in Coeur Mining by 12.5% in 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 during the period. Van ECK Associates Corp grew its stake in Coeur Mining by 6.5% in the first quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after purchasing an additional 2,345,791 shares during the period. Finally, M&G Plc purchased a new stake in Coeur Mining in the second quarter worth $9,966,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDE has been the topic of several recent research reports. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. 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. 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and an average price target of $7.83.

Coeur Mining Trading Down 9.5 %

Shares of NYSE:CDE opened at $6.41 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of -20.68 and a beta of 1.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45. Coeur Mining, Inc. has a 1 year low of $2.00 and a 1 year high of $7.72. The stock’s fifty day moving average price is $6.25 and its 200-day moving average price is $5.61.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $222.03 million for 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 company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. Sell-side 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.