TSP Capital Management Group LLC Lowers Holdings in Coeur Mining, Inc. $CDE

TSP Capital Management Group LLC decreased its holdings in Coeur Mining, Inc. (NYSE:CDE) by 7.6% in the second quarter, HoldingsChannel.com reports. The fund owned 656,125 shares of the basic materials company’s stock after selling 53,725 shares during the quarter. Coeur Mining comprises 1.8% of TSP Capital Management Group LLC’s portfolio, making the stock its 22nd biggest holding. TSP Capital Management Group LLC’s holdings in Coeur Mining were worth $5,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC bought a new position in Coeur Mining in the 1st quarter worth approximately $106,000. New York State Common Retirement Fund lifted its holdings in shares of Coeur Mining by 76.7% in the first quarter. New York State Common Retirement Fund now owns 194,026 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 84,200 shares in the last quarter. CWM LLC boosted its position in shares of Coeur Mining by 404.3% during the first quarter. CWM LLC now owns 46,833 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 37,546 shares during the last quarter. Victory Capital Management Inc. grew its stake in Coeur Mining by 426.1% during the first quarter. Victory Capital Management Inc. now owns 255,740 shares of the basic materials company’s stock valued at $1,514,000 after acquiring an additional 207,126 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Coeur Mining in the 1st quarter valued at $590,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Activity

In other Coeur Mining news, CEO Mitchell J. Krebs sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the completion of the transaction, the chief executive officer owned 2,197,309 shares in the company, valued at $32,190,576.85. The trade was a 5.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Casey M. Nault sold 102,257 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $12.00, for a total value of $1,227,084.00. Following the transaction, the senior vice president directly owned 568,623 shares in the company, valued at approximately $6,823,476. This represents a 15.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 352,257 shares of company stock worth $4,878,334 over the last quarter. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CDE. Zacks Research upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. BMO Capital Markets lifted their target price on Coeur Mining from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings upgraded Coeur Mining from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, November 13th. Roth Capital set a $20.00 price target on Coeur Mining and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Raymond James Financial set a $21.00 price objective on Coeur Mining in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Coeur Mining presently has an average rating of “Buy” and a consensus target price of $16.32.

Coeur Mining Price Performance

Shares of Coeur Mining stock opened at $14.36 on Wednesday. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 21.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The stock has a 50 day moving average price of $17.66 and a 200-day moving average price of $12.47. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $23.61.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $554.57 million during the quarter, compared to the consensus estimate of $511.20 million. Coeur Mining had a return on equity of 17.01% and a net margin of 24.03%.The firm’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities analysts expect that Coeur Mining, Inc. will post 0.58 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.