Principal Financial Group Inc. Cuts Stake in Coeur Mining, Inc. (NYSE:CDE)

Principal Financial Group Inc. lessened its stake in Coeur Mining, Inc. (NYSE:CDE) by 28.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,610 shares of the basic materials company’s stock after selling 11,133 shares during the quarter. Principal Financial Group Inc.’s holdings in Coeur Mining were worth $190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Coeur Mining during the second quarter valued at $49,000. WINTON GROUP Ltd bought a new stake in shares of Coeur Mining in the 2nd quarter worth approximately $57,000. CIBC Asset Management Inc acquired a new position in Coeur Mining during the 2nd quarter valued at approximately $59,000. SPC Financial Inc. bought a new position in Coeur Mining during the 2nd quarter worth $65,000. Finally, CWM LLC increased its position in Coeur Mining by 93.2% in the third quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock worth $67,000 after buying an additional 4,686 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Stock Performance

CDE opened at $6.13 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $6.31. The firm has a market capitalization of $2.45 billion, a P/E ratio of -204.27 and a beta of 1.60. Coeur Mining, Inc. has a 12-month low of $2.42 and a 12-month high of $7.72.

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

Analyst Ratings Changes

CDE has been the subject of several recent research reports. Raymond James upped their price target 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. Roth Mkm reaffirmed a “buy” rating and set a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group upped their price target on shares of Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

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.