Mackenzie Financial Corp Cuts Stock Position in Coeur Mining, Inc. (NYSE:CDE)

Mackenzie Financial Corp cut its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 94.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,593 shares of the basic materials company's stock after selling 442,137 shares during the quarter. Mackenzie Financial Corp's holdings in Coeur Mining were worth $146,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in Coeur Mining by 59.2% during the third quarter. Barclays PLC now owns 962,652 shares of the basic materials company's stock valued at $6,624,000 after acquiring an additional 358,097 shares during the last quarter. KBC Group NV increased its position in shares of Coeur Mining by 45.4% during the fourth quarter. KBC Group NV now owns 18,919 shares of the basic materials company's stock worth $108,000 after purchasing an additional 5,908 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Coeur Mining during the 4th quarter valued at $192,000. Empowered Funds LLC acquired a new stake in shares of Coeur Mining in the 4th quarter worth $66,000. Finally, Savant Capital LLC acquired a new stake in shares of Coeur Mining in the 4th quarter worth $255,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $9.45 on Friday. Coeur Mining, Inc. has a twelve month low of $4.57 and a twelve month high of $9.69. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The company has a market cap of $6.04 billion, a PE ratio of 78.72 and a beta of 1.24. The company's 50 day moving average is $6.60 and its 200 day moving average is $6.36.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. During the same period in the prior year, the company posted ($0.05) EPS. Coeur Mining's revenue was up 69.0% compared to the same quarter last year. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling at Coeur Mining

In other news, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the transaction, the director now owns 188,362 shares of the company's stock, valued at $1,375,042.60. The trade was a 24.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the transaction, the chief accounting officer now owns 122,104 shares of the company's stock, valued at approximately $903,569.60. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CDE has been the topic of several recent analyst reports. Raymond James reaffirmed an "outperform" rating and set a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. TD Securities assumed coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a "buy" rating and a $7.00 price objective on the stock. Cormark upgraded shares of Coeur Mining to a "moderate buy" rating in a research note on Thursday, February 20th. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research note on Tuesday, February 18th. They set an "outperform" rating and a $9.00 price target on the stock. Finally, Roth Mkm decreased their price target on shares of Coeur Mining from $8.50 to $8.25 and set a "buy" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $8.10.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.

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