Contravisory Investment Management Inc. Acquires Shares of 46,593 Coeur Mining, Inc. (NYSE:CDE)

Contravisory Investment Management Inc. purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 46,593 shares of the basic materials company’s stock, valued at approximately $267,000.

A number of other institutional investors have also recently modified their holdings of CDE. Van ECK Associates Corp lifted its position in shares of Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after acquiring an additional 365,115 shares in the last quarter. Geode Capital Management LLC increased its stake in Coeur Mining by 1.0% during the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after acquiring an additional 89,863 shares during the last quarter. Millennium Management LLC raised its holdings in Coeur Mining by 2.6% in the 2nd quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock valued at $15,926,000 after buying an additional 72,423 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Coeur Mining by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,453,721 shares of the basic materials company’s stock worth $13,790,000 after acquiring an additional 93,500 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Coeur Mining by 88.3% during the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after buying an additional 665,452 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on CDE shares. Raymond James upped their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. StockNews.com raised Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BMO Capital Markets upped their price objective on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Cantor Fitzgerald raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm restated a “buy” rating and issued a $8.50 target price (down from $9.00) on shares of Coeur Mining in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coeur Mining has an average rating of “Moderate Buy” and a consensus target price of $7.81.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $6.20 on Friday. The business’s fifty day moving average price is $6.32 and its two-hundred day moving average price is $6.34. Coeur Mining, Inc. has a 1-year low of $2.42 and a 1-year high of $7.72. The firm has a market capitalization of $2.47 billion, a PE ratio of -206.43 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The business’s revenue was up 61.1% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. On average, research analysts expect that Coeur Mining, Inc. will post 0.15 EPS for the current year.

Coeur Mining Company 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.