Coeur Mining Inc (CDE) Position Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its stake in Coeur Mining Inc (NYSE:CDE) by 43.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,992 shares of the basic materials company’s stock after selling 189,989 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Coeur Mining worth $2,261,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Coeur Mining in the second quarter worth $141,000. Bank of New York Mellon Corp boosted its stake in Coeur Mining by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 912,125 shares of the basic materials company’s stock worth $7,827,000 after purchasing an additional 62,101 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Coeur Mining by 15.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 112,578 shares of the basic materials company’s stock worth $966,000 after purchasing an additional 14,967 shares in the last quarter. Prudential Financial Inc. boosted its stake in Coeur Mining by 7.6% in the second quarter. Prudential Financial Inc. now owns 19,451 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Coeur Mining by 0.7% in the second quarter. Principal Financial Group Inc. now owns 99,301 shares of the basic materials company’s stock worth $852,000 after purchasing an additional 663 shares in the last quarter. 69.73% of the stock is currently owned by institutional investors and hedge funds.

CDE has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “buy” rating on shares of Coeur Mining in a research note on Wednesday, September 27th. Noble Financial reissued a “hold” rating on shares of Coeur Mining in a research note on Tuesday, October 31st. Zacks Investment Research raised Coeur Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. BMO Capital Markets set a $12.00 price objective on Coeur Mining and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, Roth Capital set a $13.00 price target on Coeur Mining and gave the company a “buy” rating in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.29.

Coeur Mining Inc (CDE) opened at $8.55 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.51 and a current ratio of 3.68. Coeur Mining Inc has a one year low of $6.71 and a one year high of $12.30. The stock has a market capitalization of $1,587.22, a price-to-earnings ratio of -106.86 and a beta of 0.38.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.17). Coeur Mining had a negative net margin of 2.41% and a negative return on equity of 1.37%. The firm had revenue of $176.00 million for the quarter, compared to analyst estimates of $185.09 million. During the same period last year, the company earned $0.23 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. analysts forecast that Coeur Mining Inc will post -0.05 EPS for the current fiscal year.

In related news, VP Mark Spurbeck sold 15,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $7.42, for a total value of $111,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter C. Mitchell sold 10,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $7.67, for a total value of $76,700.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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Coeur Mining Company Profile

Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.

Institutional Ownership by Quarter for Coeur Mining (NYSE:CDE)

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