Mainsail Asset Management LLC Takes Position in Coeur Mining, Inc. (NYSE:CDE)

Mainsail Asset Management LLC acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,500 shares of the basic materials company’s stock, valued at approximately $379,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDE. Tidal Investments LLC bought a new stake in Coeur Mining during the first quarter worth $41,587,000. American Century Companies Inc. boosted its position in Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the last quarter. Vanguard Group Inc. boosted its position in Coeur Mining by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after purchasing an additional 3,989,352 shares during the last quarter. Van ECK Associates Corp boosted its position in Coeur Mining by 6.5% in the first quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after purchasing an additional 2,345,791 shares during the last quarter. Finally, M&G Plc purchased a new position in Coeur Mining in the second quarter worth $9,966,000. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CDE shares. Roth Mkm reissued a “buy” rating and issued a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a research report on Friday, August 9th. Raymond James boosted their price objective on Coeur Mining from $5.75 to $6.25 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Cantor Fitzgerald cut Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets boosted their price objective on Coeur Mining from $6.75 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Coeur Mining Stock Performance

NYSE:CDE opened at $7.29 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.45 and a current ratio of 1.20. Coeur Mining, Inc. has a 52-week low of $2.00 and a 52-week high of $7.31. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -23.50 and a beta of 1.64. The business’s fifty day moving average is $6.08 and its 200 day moving average is $5.17.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company had revenue of $222.03 million for the quarter, compared to analyst estimates of $242.18 million. During the same period in the previous year, the company posted ($0.06) EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. Research analysts predict that Coeur Mining, Inc. will post 0.08 EPS for the current year.

Coeur Mining 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.