Cubist Systematic Strategies LLC Reduces Holdings in Coeur Mining, Inc. (NYSE:CDE)

Cubist Systematic Strategies LLC decreased its position in shares of Coeur Mining, Inc. (NYSE:CDE – Get Rating) by 55.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,611 shares of the basic materials company’s stock after selling 246,278 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of Coeur Mining worth $686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDE. State Street Corp increased its stake in Coeur Mining by 56.5% during the 1st quarter. State Street Corp now owns 27,794,163 shares of the basic materials company’s stock worth $123,684,000 after buying an additional 10,035,506 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Coeur Mining during the 3rd quarter worth $12,013,000. Dimensional Fund Advisors LP increased its stake in Coeur Mining by 15.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,632,842 shares of the basic materials company’s stock worth $38,416,000 after buying an additional 1,128,839 shares during the period. BlackRock Inc. grew its holdings in Coeur Mining by 3.2% during the 1st quarter. BlackRock Inc. now owns 21,720,736 shares of the basic materials company’s stock worth $96,658,000 after acquiring an additional 670,133 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Coeur Mining by 163.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,002,353 shares of the basic materials company’s stock worth $4,461,000 after acquiring an additional 621,717 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CDE. Canaccord Genuity Group raised shares of Coeur Mining from a “sell” rating to a “hold” rating and raised their price objective for the stock from $3.00 to $4.00 in a report on Thursday, January 19th. Cormark decreased their price objective on shares of Coeur Mining to $3.00 in a report on Wednesday, November 16th. Raymond James raised their price objective on shares of Coeur Mining from $4.00 to $4.25 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Finally, BMO Capital Markets decreased their price objective on shares of Coeur Mining from $3.75 to $3.50 and set a “market perform” rating for the company in a report on Friday, December 16th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.65.

Insider Activity at Coeur Mining

In other news, Director Randy Gress acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were purchased at an average cost of $2.93 per share, for a total transaction of $58,600.00. Following the transaction, the director now directly owns 205,213 shares in the company, valued at approximately $601,274.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.61% of the stock is currently owned by insiders.

Coeur Mining Trading Down 1.4 %

NYSE CDE opened at $2.85 on Friday. Coeur Mining, Inc. has a one year low of $2.54 and a one year high of $5.39. The company has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $3.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.37. The firm has a market capitalization of $842.57 million, a PE ratio of -9.83 and a beta of 1.52.

Coeur Mining (NYSE:CDE – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Coeur Mining had a negative net margin of 9.95% and a negative return on equity of 10.28%. The business had revenue of $210.12 million during the quarter, compared to analyst estimates of $204.82 million. During the same period in the previous year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Coeur Mining, Inc. will post -0.1 earnings per share for the current year.

About Coeur Mining

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Coeur Mining, Inc engages in the exploration and development of silver and gold mining properties and mines located in United States, Canada and Mexico. The company operates through the following segments: Palmarejo, Rochester, Kensington, Wharf, and Silvertip. Coeur Mining was founded in 1928 and is headquartered in Chicago, IL.