Investec Asset Management LTD Buys Shares of 3,356,752 Coeur Mining, Inc. (CDE)

Investec Asset Management LTD bought a new position in Coeur Mining, Inc. (NYSE:CDE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,356,752 shares of the basic materials company’s stock, valued at approximately $28,801,000. Investec Asset Management LTD owned approximately 1.85% of Coeur Mining as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Coeur Mining by 13.1% in the 1st quarter. Van ECK Associates Corp now owns 12,678,302 shares of the basic materials company’s stock worth $102,441,000 after acquiring an additional 1,464,214 shares in the last quarter. GMT Capital Corp raised its position in shares of Coeur Mining by 47.7% in the 1st quarter. GMT Capital Corp now owns 11,747,789 shares of the basic materials company’s stock worth $94,922,000 after acquiring an additional 3,792,700 shares in the last quarter. BlackRock Inc. raised its position in shares of Coeur Mining by 1.3% in the 2nd quarter. BlackRock Inc. now owns 11,688,139 shares of the basic materials company’s stock worth $100,285,000 after acquiring an additional 149,548 shares in the last quarter. State Street Corp raised its position in shares of Coeur Mining by 25.5% in the 1st quarter. State Street Corp now owns 8,767,696 shares of the basic materials company’s stock worth $70,842,000 after acquiring an additional 1,780,872 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 19.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,814,259 shares of the basic materials company’s stock worth $22,738,000 after acquiring an additional 453,663 shares in the last quarter. 68.90% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining, Inc. (NYSE CDE) traded down 0.32% on Monday, reaching $9.25. The company had a trading volume of 505,031 shares. The stock’s 50-day moving average is $8.39 and its 200-day moving average is $8.61. The company has a market capitalization of $1.68 billion, a P/E ratio of 24.03 and a beta of 0.47. Coeur Mining, Inc. has a 52 week low of $7.30 and a 52 week high of $13.65.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, July 26th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $173.40 million during the quarter, compared to analyst estimates of $174.70 million. Coeur Mining had a return on equity of 10.44% and a net margin of 9.65%. Coeur Mining’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. Equities research analysts forecast that Coeur Mining, Inc. will post $0.12 EPS for the current fiscal year.

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In other news, COO Frank L. Jr. Hanagarne sold 28,800 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $8.50, for a total transaction of $244,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Hans John Rasmussen sold 10,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $9.25, for a total value of $92,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,800 shares of company stock valued at $419,200. 1.30% of the stock is owned by company insiders.

Several research analysts have recently issued reports on CDE shares. Canaccord Genuity reissued a “buy” rating and issued a $11.75 target price on shares of Coeur Mining in a research report on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating on shares of Coeur Mining in a research report on Friday, July 14th. BidaskClub raised Coeur Mining from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. ValuEngine lowered Coeur Mining from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, UBS AG lowered Coeur Mining from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $11.23.

About Coeur Mining

Coeur Mining, Inc is a gold and silver producer. The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. Its segments include Palmarejo, Rochester, Kensington, Wharf, San Bartolome mines, Coeur Capital and Other. The Palmarejo complex is located in the state of Chihuahua, Mexico.

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Institutional Ownership by Quarter for Coeur Mining (NYSE:CDE)

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