Victory Capital Management Inc. Acquires 553,814 Shares of Coeur Mining, Inc. $CDE

Key Points

• Victory Capital Management boosted its stake in Coeur Mining by 498.8% in Q3, buying 553,814 shares to own 664,840 shares (about 0.10% of the company) valued at roughly $12.47 million.
• Analysts give CDE a consensus "Moderate Buy" with an average target of $23; recent quarter showed EPS of $0.35 (missed $0.43) and revenue of $674.85M (up 120.9% year-over-year), while the stock opened at $22.36 and has a market cap of $14.36B.

Victory Capital Management Inc. increased its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 498.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 664,840 shares of the basic materials company's stock after buying an additional 553,814 shares during the period. Victory Capital Management Inc. owned 0.10% of Coeur Mining worth $12,472,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CDE. Covestor Ltd boosted its position in shares of Coeur Mining by 7,011.5% during the 3rd quarter. Covestor Ltd now owns 1,849 shares of the basic materials company's stock worth $35,000 after acquiring an additional 1,823 shares in the last quarter. Bogart Wealth LLC acquired a new position in Coeur Mining in the 3rd quarter valued at approximately $62,000. EverSource Wealth Advisors LLC lifted its holdings in Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock worth $30,000 after buying an additional 1,435 shares during the period. Luminist Capital LLC acquired a new position in shares of Coeur Mining in the second quarter worth approximately $40,000. Finally, MAI Capital Management increased its position in shares of Coeur Mining by 36.4% during the third quarter. MAI Capital Management now owns 5,704 shares of the basic materials company's stock worth $107,000 after buying an additional 1,521 shares during the period. Institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CDE shares. Zacks Research lowered shares of Coeur Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce started coverage on Coeur Mining in a report on Tuesday. They set an "outperform" rating and a $40.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Roth Mkm reiterated a "buy" rating and set a $29.00 target price on shares of Coeur Mining in a research note on Thursday, February 19th. Finally, Canaccord Genuity Group cut shares of Coeur Mining from a "buy" rating to a "hold" rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Coeur Mining has an average rating of "Moderate Buy" and an average target price of $23.00.

Coeur Mining Stock Down 4.2%

CDE stock opened at $22.36 on Thursday. Coeur Mining, Inc. has a twelve month low of $4.58 and a twelve month high of $27.77. The business has a 50 day moving average of $22.58 and a 200 day moving average of $18.84. The firm has a market cap of $14.36 billion, a PE ratio of 25.70 and a beta of 1.16. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.10.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The business had revenue of $674.85 million for the quarter, compared to the consensus estimate of $668.70 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company's revenue for the quarter was up 120.9% compared to the same quarter last year. On average, research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

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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