Wellington Management Group LLP Increases Stock Position in Coeur Mining, Inc. (NYSE:CDE)

Wellington Management Group LLP lifted its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 14.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 932,074 shares of the basic materials company’s stock after purchasing an additional 114,870 shares during the period. Wellington Management Group LLP’s holdings in Coeur Mining were worth $6,413,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Coeur Mining during the 3rd quarter worth about $183,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Coeur Mining by 142.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,039 shares of the basic materials company’s stock worth $145,000 after buying an additional 12,359 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Coeur Mining by 5.5% in the third quarter. Verition Fund Management LLC now owns 220,209 shares of the basic materials company’s stock valued at $1,515,000 after buying an additional 11,397 shares during the last quarter. Martingale Asset Management L P purchased a new position in shares of Coeur Mining during the third quarter valued at approximately $747,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Coeur Mining by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 853,418 shares of the basic materials company’s stock worth $5,872,000 after acquiring an additional 50,535 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDE has been the subject of several analyst reports. Roth Mkm reiterated a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a report on Friday, November 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 report on Friday, November 8th. Canaccord Genuity Group increased 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, October 8th. Finally, Raymond James raised their target price 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. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coeur Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Stock Performance

Shares of NYSE:CDE opened at $6.31 on Tuesday. The business has a 50-day moving average of $6.58 and a two-hundred day moving average of $6.27. The firm has a market capitalization of $2.52 billion, a PE ratio of -210.17 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. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The business’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. As a group, research analysts forecast that Coeur Mining, Inc. will post 0.15 earnings per share for the current year.

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.