Mirae Asset Global Investments Co. Ltd. Takes Position in Coeur Mining Inc (CDE)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Coeur Mining Inc (NYSE:CDE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,657,875 shares of the basic materials company’s stock, valued at approximately $14,166,000. Mirae Asset Global Investments Co. Ltd. owned approximately 1.33% of Coeur Mining at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bridgeway Capital Management Inc. grew its stake in Coeur Mining by 73.3% during the third quarter. Bridgeway Capital Management Inc. now owns 533,000 shares of the basic materials company’s stock worth $2,841,000 after buying an additional 225,500 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Coeur Mining by 18.1% in the third quarter. Dimensional Fund Advisors LP now owns 14,160,028 shares of the basic materials company’s stock valued at $75,472,000 after purchasing an additional 2,166,396 shares during the period. Symons Capital Management Inc. purchased a new position in shares of Coeur Mining in the third quarter valued at $281,000. BlackRock Inc. boosted its stake in shares of Coeur Mining by 1.8% in the third quarter. BlackRock Inc. now owns 12,798,126 shares of the basic materials company’s stock valued at $68,214,000 after purchasing an additional 227,794 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of Coeur Mining by 118.4% in the third quarter. CI Investments Inc. now owns 1,484,848 shares of the basic materials company’s stock valued at $7,914,000 after purchasing an additional 804,848 shares during the period. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CDE stock opened at $3.95 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.96. Coeur Mining Inc has a twelve month low of $3.81 and a twelve month high of $8.94.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, October 31st. The basic materials company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Coeur Mining had a negative net margin of 5.92% and a negative return on equity of 0.47%. The company had revenue of $148.80 million for the quarter, compared to the consensus estimate of $151.15 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts predict that Coeur Mining Inc will post -0.13 EPS for the current year.

Several brokerages have recently weighed in on CDE. Noble Financial restated a “buy” rating on shares of Coeur Mining in a research note on Friday, November 2nd. Raymond James set a $8.00 target price on shares of Coeur Mining and gave the company a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 1st. TheStreet downgraded shares of Coeur Mining from a “c-” rating to a “d+” rating in a research note on Thursday, October 25th. Finally, BMO Capital Markets set a $8.00 target price on shares of Coeur Mining and gave the company a “buy” rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $8.96.

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Coeur Mining Company Profile

Coeur Mining, Inc owns, operates, explores for, and develops silver and gold properties. It holds interests in the Palmarejo silver-gold complex located in Mexico; the Silvertip silver-zinc-lead mine located in British Columbia; the Rochester silver-gold mine located in Nevada; the Kensington gold mine located in Alaska; and the Wharf gold mine located in South Dakota.

See Also: Inflation

Institutional Ownership by Quarter for Coeur Mining (NYSE:CDE)

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