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

Key Points

• NewEdge Advisors cut its Coeur Mining stake by 59.7% in the second quarter, selling 68,774 shares and retaining 46,369 shares valued at approximately $757,000.
• Institutional investors collectively own 63.01% of CDE, with several major firms—including Arrowstreet Capital, Goldman Sachs, and Dimensional Fund Advisors—substantially increasing their positions. Company insiders, however, sold 51,000 shares worth about $1.06 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $25.50, despite shares opening at $19.34 and the company missing quarterly earnings and revenue expectations.

NewEdge Advisors LLC lowered its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 59.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 46,369 shares of the basic materials company's stock after selling 68,774 shares during the period. NewEdge Advisors LLC's holdings in Coeur Mining were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDE. Arrowstreet Capital Limited Partnership lifted its stake in shares of Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company's stock worth $524,669,000 after buying an additional 13,418,041 shares in the last quarter. Geode Capital Management LLC lifted its stake in Coeur Mining by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company's stock worth $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Coeur Mining by 34.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company's stock worth $241,484,000 after purchasing an additional 3,291,431 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Coeur Mining by 92.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock worth $222,922,000 after purchasing an additional 6,012,718 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Coeur Mining by 38.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 8,537,254 shares of the basic materials company's stock valued at $152,219,000 after purchasing an additional 2,366,413 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Buying and Selling

In related news, Director J. Kenneth Thompson sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the sale, the director directly owned 257,333 shares in the company, valued at approximately $5,344,806.41. The trade was a 8.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Whelan sold 6,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 51,000 shares of company stock valued at $1,055,070. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CDE has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Coeur Mining in a research report on Monday. Zacks Research upgraded Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Scotiabank cut their target price on Coeur Mining from $28.50 to $26.50 and set an "outperform" rating for the company in a research note on Friday, August 7th. Finally, Roth Capital set a $19.00 target price on Coeur Mining in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.50.

Coeur Mining Stock Down 5.6%

Shares of NYSE CDE opened at $19.34 on Thursday. The company has a market capitalization of $19.89 billion, a P/E ratio of 16.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The company has a 50 day simple moving average of $18.62 and a 200-day simple moving average of $18.39. Coeur Mining, Inc. has a 1 year low of $13.55 and a 1 year high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company's revenue was up 125.8% on a year-over-year basis. On average, equities research analysts predict that Coeur Mining, Inc. will post 0.9 earnings per share for the current year.

Coeur Mining Profile

Coeur Mining, Inc NYSE: CDE is a precious metals mining company that explores for, develops, and produces gold and silver. The company's activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur's operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.

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