Synergy Asset Management LLC Lowers Stock Holdings in Coeur Mining, Inc. $CDE

Synergy Asset Management LLC cut its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,162 shares of the basic materials company’s stock after selling 5,000 shares during the period. Synergy Asset Management LLC’s holdings in Coeur Mining were worth $125,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Coeur Mining by 150.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company’s stock valued at $1,277,000 after purchasing an additional 129,574 shares in the last quarter. Range Financial Group LLC purchased a new position in Coeur Mining in the 2nd quarter valued at approximately $1,115,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Coeur Mining in the first quarter worth $540,000. Allspring Global Investments Holdings LLC grew its stake in shares of Coeur Mining by 3,091.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company’s stock worth $6,050,000 after acquiring an additional 989,952 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Coeur Mining by 71.0% during the first quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 8,943 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $18.72 on Friday. The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $9.68. The firm has a market capitalization of $12.03 billion, a PE ratio of 50.59 and a beta of 1.23. Coeur Mining, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $19.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The company had revenue of $480.65 million for the quarter, compared to analyst estimates of $438.40 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 116.5% on a year-over-year basis. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Pierre Beaudoin sold 48,362 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the completion of the sale, the director directly owned 140,000 shares of the company’s stock, valued at $1,619,800. The trade was a 25.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.62, for a total value of $92,960.00. Following the transaction, the chief accounting officer directly owned 143,007 shares in the company, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,619 shares of company stock worth $6,626,362 over the last three months. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CDE. Roth Capital set a $20.00 target price on Coeur Mining and gave the company a “buy” rating in a report on Friday. National Bank Financial raised Coeur Mining to a “strong-buy” rating in a research report on Thursday, June 12th. National Bankshares set a $12.00 price objective on Coeur Mining in a research note on Friday, June 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note on Saturday, September 27th. Finally, Zacks Research raised shares of Coeur Mining to a “hold” rating in a report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Coeur Mining currently has a consensus rating of “Buy” and an average target price of $10.79.

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.