Coeur Mining Inc (CDE) Position Raised by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Coeur Mining Inc (NYSE:CDE) by 55.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,965 shares of the basic materials company’s stock after purchasing an additional 138,473 shares during the period. Bank of Montreal Can owned approximately 0.21% of Coeur Mining worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDE. Dimensional Fund Advisors LP grew its holdings in Coeur Mining by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,993,632 shares of the basic materials company’s stock valued at $91,151,000 after purchasing an additional 1,663,565 shares in the last quarter. Van ECK Associates Corp boosted its stake in Coeur Mining by 6.6% during the 2nd quarter. Van ECK Associates Corp now owns 21,000,231 shares of the basic materials company’s stock valued at $159,602,000 after acquiring an additional 1,300,391 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Coeur Mining by 130.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,079,696 shares of the basic materials company’s stock valued at $15,805,000 after acquiring an additional 1,176,642 shares during the last quarter. BlackRock Inc. boosted its stake in Coeur Mining by 4.8% during the 2nd quarter. BlackRock Inc. now owns 12,570,332 shares of the basic materials company’s stock valued at $95,535,000 after acquiring an additional 577,792 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Coeur Mining by 528.7% during the 2nd quarter. Millennium Management LLC now owns 679,686 shares of the basic materials company’s stock valued at $5,166,000 after acquiring an additional 571,577 shares during the last quarter. 66.43% of the stock is owned by institutional investors and hedge funds.

NYSE CDE opened at $4.66 on Friday. Coeur Mining Inc has a 12 month low of $4.46 and a 12 month high of $8.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.96. The firm has a market cap of $991.65 million, a price-to-earnings ratio of 233.00 and a beta of 0.74.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, October 31st. The basic materials company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Coeur Mining had a negative net margin of 5.92% and a negative return on equity of 0.47%. The company had revenue of $148.80 million for the quarter, compared to the consensus estimate of $151.15 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue was down 6.9% compared to the same quarter last year. On average, research analysts expect that Coeur Mining Inc will post -0.13 EPS for the current fiscal year.

A number of research analysts have commented on the stock. Raymond James set a $8.00 price objective on shares of Coeur Mining and gave the company a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 1st. Noble Financial reiterated a “buy” rating on shares of Coeur Mining in a research note on Friday, November 2nd. BMO Capital Markets set a $8.00 price objective on shares of Coeur Mining and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, ValuEngine downgraded shares of Coeur Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $8.96.

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About Coeur Mining

Coeur Mining, Inc owns, operates, explores for, and develops silver and gold properties. It holds interests in the Palmarejo silver-gold complex located in Mexico; the Silvertip silver-zinc-lead mine located in British Columbia; the Rochester silver-gold mine located in Nevada; the Kensington gold mine located in Alaska; and the Wharf gold mine located in South Dakota.

Further Reading: Outstanding Shares

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

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