Corebridge Financial Inc. Sells 14,828 Shares of Coeur Mining, Inc. (NYSE:CDE)

Corebridge Financial Inc. trimmed its holdings in Coeur Mining, Inc. (NYSE:CDE) by 7.0% in the 4th quarter, HoldingsChannel reports. The firm owned 196,432 shares of the basic materials company’s stock after selling 14,828 shares during the quarter. Corebridge Financial Inc.’s holdings in Coeur Mining were worth $1,124,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Coeur Mining by 88.3% in 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 in the last quarter. XTX Topco Ltd purchased a new stake in Coeur Mining in the 3rd quarter worth $1,311,000. BNP Paribas Financial Markets boosted its holdings in shares of Coeur Mining by 180.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock valued at $2,137,000 after purchasing an additional 199,919 shares during the last quarter. US Bancorp DE grew its position in shares of Coeur Mining by 595.5% during the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock valued at $503,000 after purchasing an additional 75,314 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Coeur Mining in the fourth quarter worth about $267,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Down 11.7 %

Shares of CDE opened at $4.85 on Friday. The company’s fifty day simple moving average is $6.10 and its 200-day simple moving average is $6.35. The company has a market cap of $3.09 billion, a P/E ratio of 40.38 and a beta of 1.51. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. Coeur Mining, Inc. has a twelve month low of $4.03 and a twelve month high of $7.72.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

CDE has been the subject of a number of research reports. TD Securities started coverage on Coeur Mining in a research note on Tuesday, March 11th. They set a “buy” rating and a $7.00 price target for the company. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target on the stock. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and a consensus target price of $8.05.

Insider Transactions at Coeur Mining

In related news, CFO Thomas S. Whelan purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the acquisition, the chief financial officer now owns 668,450 shares in the company, valued at approximately $3,509,362.50. This trade represents a 1.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.56% of the company’s stock.

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.