Coeur Mining, Inc. $CDE Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors reduced its Coeur Mining stake by 60% in the first quarter, selling 172,952 shares and retaining 115,143 shares valued at approximately $2.16 million. Institutional investors collectively own 63.01% of the company.
• Coeur Mining reported quarterly EPS of $0.12, below the $0.26 consensus estimate, while revenue reached $1.09 billion, also missing expectations but rising 125.8% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $25.50, despite mixed rating changes and the stock trading near $18.84.

NewEdge Advisors LLC cut its holdings in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 60.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,143 shares of the basic materials company's stock after selling 172,952 shares during the quarter. NewEdge Advisors LLC's holdings in Coeur Mining were worth $2,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optiver Holding B.V. purchased a new position in Coeur Mining in the first quarter worth $167,000. Glenmede Trust Co. NA grew its stake in shares of Coeur Mining by 3.8% during the 1st quarter. Glenmede Trust Co. NA now owns 48,942 shares of the basic materials company's stock worth $919,000 after purchasing an additional 1,771 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in shares of Coeur Mining during the 1st quarter worth $359,000. Groupe la Francaise increased its holdings in shares of Coeur Mining by 101.8% in the 1st quarter. Groupe la Francaise now owns 555,000 shares of the basic materials company's stock valued at $10,385,000 after purchasing an additional 280,000 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Coeur Mining by 83.2% in the 1st 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. Institutional investors and hedge funds own 63.01% of the company's stock.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $18.84 on Friday. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $16.40 and its 200 day moving average price is $18.98. Coeur Mining, Inc. has a 52 week low of $11.23 and a 52 week high of $27.77. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 16.10 and a beta of 1.32.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The firm's revenue for the quarter was up 125.8% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. As a group, research analysts forecast that Coeur Mining, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on CDE shares. Scotiabank decreased their price objective on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a report on Friday, August 7th. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research report on Friday, August 7th. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Wednesday, April 29th. Zacks Research cut Coeur Mining from a "hold" rating to a "strong sell" rating in a report on Friday, July 10th. Finally, Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

Insider Activity

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Coeur Mining Company Profile

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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