Wellington Management Group LLP Decreases Stock Holdings in Coeur Mining, Inc. $CDE

Key Points

• Wellington Management cut its Coeur Mining stake by 34.6% in the second quarter, selling 1.61 million shares and retaining 3.05 million shares worth about $49.8 million. Institutional investors still own approximately 63% of CDE.
• Coeur Mining shares recently traded at $21.71, up 1.4%, despite the company reporting quarterly EPS of $0.12—below the $0.26 analyst consensus. Revenue rose 125.8% year over year to $1.09 billion but also missed expectations.
• Analyst sentiment remains moderately bullish, with an average rating of “Moderate Buy” and a $25.50 price target, although several firms recently downgraded or lowered their targets. Company insiders sold 41,000 shares worth approximately $844,470 during the last quarter.

Wellington Management Group LLP reduced its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 34.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,052,305 shares of the basic materials company's stock after selling 1,614,856 shares during the period. Wellington Management Group LLP owned 0.30% of Coeur Mining worth $49,814,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ancora Advisors LLC acquired a new position in Coeur Mining during the second quarter worth $26,000. Triumph Capital Management raised its holdings in shares of Coeur Mining by 300.0% during the 4th quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company's stock worth $29,000 after acquiring an additional 1,200 shares during the period. Versant Capital Management Inc raised its holdings in shares of Coeur Mining by 105.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock worth $26,000 after acquiring an additional 820 shares during the period. Kingdom Financial Group LLC. acquired a new position in shares of Coeur Mining during the 4th quarter valued at about $32,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Coeur Mining during the 3rd quarter valued at about $35,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Trading Up 1.4%

Shares of CDE stock opened at $21.71 on Friday. Coeur Mining, Inc. has a 1-year low of $13.55 and a 1-year high of $27.77. The firm has a market cap of $22.32 billion, a PE ratio of 18.56 and a beta of 1.39. The company has a 50-day moving average of $17.51 and a two-hundred day moving average of $18.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) 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 analysts' expectations of $1.24 billion. Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. Coeur Mining's revenue was up 125.8% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. On average, analysts predict that Coeur Mining, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDE. Cantor Fitzgerald cut shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research note on Friday, August 7th. Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Scotiabank reduced their price target on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Finally, Wall Street Zen cut Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.50.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, EVP Casey Nault sold 10,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the executive vice president directly owned 540,086 shares in the company, valued at $10,801,720. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Whelan sold 6,000 shares of Coeur Mining stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,000 shares of company stock valued at $844,470 over the last quarter. 0.90% of the stock is owned by company insiders.

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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