Corient Private Wealth LP Sells 150,083 Shares of Coeur Mining, Inc. $CDE

Key Points

• Corient Private Wealth LP cut its Coeur Mining stake by 92.5% in the second quarter, selling 150,083 shares and retaining 12,132 shares valued at approximately $198,000. Institutional investors collectively own 63.01% of the company.
• Coeur Mining insiders sold 51,000 shares worth about $1.06 million over the past 90 days, including director J. Kenneth Thompson and EVP Casey Nault.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $25.50 price target. However, the company recently missed quarterly earnings and revenue estimates, while shares opened at $17.12.

Corient Private Wealth LP lowered its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 92.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,132 shares of the basic materials company's stock after selling 150,083 shares during the period. Corient Private Wealth LP's holdings in Coeur Mining were worth $198,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ancora Advisors LLC acquired a new stake in Coeur Mining during the second quarter worth about $26,000. Versant Capital Management Inc raised its position in shares of Coeur Mining by 105.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock valued at $26,000 after buying an additional 820 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Coeur Mining by 181.8% in the 1st quarter. Parallel Advisors LLC now owns 3,260 shares of the basic materials company's stock valued at $61,000 after buying an additional 2,103 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Coeur Mining by 64.3% during the 1st quarter. Blue Trust Inc. now owns 3,819 shares of the basic materials company's stock worth $72,000 after acquiring an additional 1,495 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Coeur Mining by 32.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the basic materials company's stock worth $73,000 after acquiring an additional 957 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Activity

In other news, Director J. Kenneth Thompson sold 25,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the transaction, the director directly owned 257,333 shares in the company, valued at approximately $5,344,806.41. This represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Casey Nault sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. This trade represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 51,000 shares of company stock worth $1,055,070. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDE shares. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Scotiabank reduced their target price on 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 Coeur Mining in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.50.

Coeur Mining Trading Down 3.0%

Shares of Coeur Mining stock opened at $17.12 on Tuesday. The firm has a market capitalization of $17.60 billion, a PE ratio of 14.64 and a beta of 1.37. 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 firm's 50 day moving average is $19.09 and its 200 day moving average is $18.17. 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 earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). The company had revenue of $1.09 billion during 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%. The business's quarterly revenue was up 125.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. Equities research analysts forecast that Coeur Mining, Inc. will post 0.88 earnings per share for the current fiscal year.

About Coeur Mining

Coeur Mining, Inc is a precious metals mining company that explores, develops, and operates mines primarily producing gold and silver. The company also conducts related activities, including mineral exploration, project development, processing, and the sale of recovered metals.

Coeur's operating portfolio has included the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Rochester silver-gold mine in Nevada, and the Palmarejo and Las Chispas operations in Mexico.

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