Sei Investments Co. Decreases Holdings in Coeur Mining, Inc. (NYSE:CDE)

Sei Investments Co. reduced its position in Coeur Mining, Inc. (NYSE:CDE) by 12.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,714 shares of the basic materials company’s stock after selling 4,412 shares during the period. Sei Investments Co.’s holdings in Coeur Mining were worth $173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in Coeur Mining in the 1st quarter valued at $41,587,000. American Century Companies Inc. raised its holdings in shares of Coeur Mining by 248.1% during 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 during the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $116,885,000 after buying an additional 3,989,352 shares during the last quarter. Van ECK Associates Corp raised its holdings in Coeur Mining by 6.5% during 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 in the last quarter. Finally, M&G Plc bought a new stake in Coeur Mining during the second quarter worth approximately $9,966,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $6.39 on Friday. The firm has a 50 day moving average of $6.25 and a 200-day moving average of $5.68. The stock has a market capitalization 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.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CDE. Raymond James lifted their price objective on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Canaccord Genuity Group boosted their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets upped their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Roth Mkm upped their target price on shares of Coeur Mining from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average price target 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.