The Manufacturers Life Insurance Company Sells 8,569 Shares of Coeur Mining, Inc. (NYSE:CDE)

The Manufacturers Life Insurance Company lessened its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 214,172 shares of the basic materials company’s stock after selling 8,569 shares during the period. The Manufacturers Life Insurance Company’s holdings in Coeur Mining were worth $1,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDE. JPMorgan Chase & Co. raised its holdings in Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after acquiring an additional 665,452 shares during the period. US Bancorp DE boosted its position in shares of Coeur Mining by 595.5% in the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock valued at $503,000 after acquiring an additional 75,314 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Coeur Mining in the fourth quarter valued at approximately $267,000. Russell Investments Group Ltd. increased its position in Coeur Mining by 2,203.1% during the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company’s stock worth $1,332,000 after acquiring an additional 222,803 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Coeur Mining by 253.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company’s stock valued at $8,419,000 after purchasing an additional 1,055,084 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insiders Place Their Bets

In other Coeur Mining news, Director Pierre Beaudoin sold 60,551 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the transaction, the director now directly owns 188,362 shares in the company, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the completion of the sale, the chief accounting officer now directly owns 122,104 shares of the company’s stock, valued at $903,569.60. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Securities started coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective on the stock. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Tuesday, March 11th. Roth Mkm reduced their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Raymond James restated an “outperform” rating and set a $8.50 price target on shares of Coeur Mining in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $8.10.

Coeur Mining Trading Down 0.4%

Shares of CDE stock opened at $7.63 on Wednesday. The company has a market capitalization of $4.87 billion, a P/E ratio of 63.59 and a beta of 1.24. Coeur Mining, Inc. has a 12-month low of $4.57 and a 12-month high of $7.85. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $5.92 and a 200 day moving average price of $6.16.

Coeur Mining (NYSE:CDE) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s revenue for the quarter was up 69.0% compared to the same quarter last year. Research analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal 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.