Bank of New York Mellon Corp Makes New $104.76 Million Investment in Coeur Mining, Inc. $CDE

Bank of New York Mellon Corp purchased a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,419,146 shares of the basic materials company's stock, valued at approximately $104,760,000. Bank of New York Mellon Corp owned 0.62% of Coeur Mining at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Bank of America Corp DE raised its stake in shares of Coeur Mining by 83.2% during the first quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company's stock valued at $101,919,000 after purchasing an additional 2,466,122 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Coeur Mining by 92.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock valued at $222,922,000 after buying an additional 6,012,718 shares in the last quarter. Norges Bank acquired a new position in Coeur Mining during the 4th quarter valued at about $128,389,000. Allspring Global Investments Holdings LLC increased its stake in Coeur Mining by 81.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company's stock valued at $69,896,000 after buying an additional 1,653,323 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Coeur Mining by 40.9% during the 1st quarter. California Public Employees Retirement System now owns 1,562,257 shares of the basic materials company's stock worth $29,324,000 after buying an additional 453,156 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

CDE has been the subject of a number of research analyst reports. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research note on Friday, August 7th. Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Wall Street Zen cut Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Finally, Cantor Fitzgerald lowered Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price target for the company. in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Coeur Mining presently has an average rating of "Moderate Buy" and an average target price of $25.50.

Coeur Mining Stock Down 0.5%

NYSE CDE opened at $20.86 on Tuesday. Coeur Mining, Inc. has a 12 month low of $12.05 and a 12 month high of $27.77. The company has a market capitalization of $21.44 billion, a P/E ratio of 17.83 and a beta of 1.32. The company's 50 day simple moving average is $16.83 and its 200 day simple moving average is $18.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. Coeur Mining's revenue was up 125.8% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts expect that Coeur Mining, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas S. Whelan sold 6,000 shares of Coeur Mining stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Kenneth Thompson sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total value of $519,250.00. Following the sale, the director owned 257,333 shares in the company, valued at approximately $5,344,806.41. The trade was a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 80,000 shares of company stock worth $1,569,870. Company insiders own 0.90% of the company's stock.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining's portfolio includes five principal operating mines and several exploration projects across North America and Australia.

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