Coeur Mining, Inc. $CDE Position Cut by Citigroup Inc.

Citigroup Inc. reduced its holdings in Coeur Mining, Inc. (NYSE:CDE) by 61.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,629 shares of the basic materials company’s stock after selling 349,924 shares during the quarter. Citigroup Inc.’s holdings in Coeur Mining were worth $4,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CDE. JPMorgan Chase & Co. increased its stake in Coeur Mining by 84.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,881,784 shares of the basic materials company’s stock valued at $25,533,000 after buying an additional 1,315,348 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Coeur Mining by 246.5% in the third quarter. Voya Investment Management LLC now owns 608,227 shares of the basic materials company’s stock valued at $11,410,000 after acquiring an additional 432,683 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Coeur Mining during the third quarter valued at approximately $5,768,000. Precision Wealth Strategies LLC acquired a new position in shares of Coeur Mining during the third quarter valued at approximately $1,169,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Coeur Mining by 29.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,368,071 shares of the basic materials company’s stock worth $44,709,000 after purchasing an additional 539,615 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CDE. Roth Mkm reaffirmed a “buy” rating and set a $29.00 price target on shares of Coeur Mining in a research note on Thursday, February 19th. Zacks Research lowered Coeur Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Canaccord Genuity Group downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.88.

Coeur Mining Stock Performance

Shares of CDE opened at $23.77 on Thursday. The company has a 50-day moving average of $22.15 and a two-hundred day moving average of $18.45. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 27.32 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $27.77.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Coeur Mining had a net margin of 28.31% and a return on equity of 18.75%. The firm had revenue of $674.85 million during the quarter, compared to analysts’ expectations of $668.70 million. During the same quarter last year, the company posted $0.11 EPS. The firm’s revenue was up 120.9% compared to the same quarter last year. On average, equities research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Coeur Mining Company Profile

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.