Coeur Mining, Inc. $CDE Stock: TSP Capital Management Group LLC Cuts Holdings

TSP Capital Management Group LLC lowered its stake in Coeur Mining, Inc. (NYSE:CDE) by 20.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,389,800 shares of the basic materials company’s stock after selling 347,086 shares during the period. Coeur Mining makes up approximately 6.3% of TSP Capital Management Group LLC’s portfolio, making the stock its largest position. TSP Capital Management Group LLC’s holdings in Coeur Mining were worth $24,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDE. Ancora Advisors LLC acquired a new stake in Coeur Mining during the 2nd quarter valued at $26,000. Versant Capital Management Inc increased its position in Coeur Mining by 105.0% during the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock worth $26,000 after buying an additional 820 shares in the last quarter. Bullseye Investment Management LLC acquired a new position in shares of Coeur Mining in the second quarter worth $33,000. Parallel Advisors LLC raised its holdings in shares of Coeur Mining by 181.8% in the first quarter. Parallel Advisors LLC now owns 3,260 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Coeur Mining by 64.3% in the first quarter. Blue Trust Inc. now owns 3,819 shares of the basic materials company’s stock worth $72,000 after acquiring an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Up 3.0%

Shares of NYSE CDE opened at $15.42 on Friday. Coeur Mining, Inc. has a 1 year low of $13.55 and a 1 year high of $27.77. The firm’s 50 day moving average price is $19.22 and its 200 day moving average price is $18.09. The firm has a market cap of $15.85 billion, a P/E ratio of 13.18 and a beta of 1.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.44 and a current ratio of 3.65.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%. The firm’s revenue was up 125.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan sold 6,000 shares of Coeur Mining stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the transaction, the director owned 257,333 shares of the company’s stock, valued at $5,344,806.41. The trade was a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,000 shares of company stock valued at $1,055,070 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CDE shares. Weiss Ratings upgraded Coeur Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Scotiabank dropped their price objective on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. Roth Capital set a $19.00 target price on shares of Coeur Mining in a research note on Friday, August 7th. Finally, Zacks Research raised shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.

About Coeur Mining

Coeur Mining, Inc is a precious metals mining company that explores, develops, and operates mines primarily producing gold and silver. The company also conducts related activities, including mineral exploration, project development, processing, and the sale of recovered metals.

Coeur’s operating portfolio has included the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Rochester silver-gold mine in Nevada, and the Palmarejo and Las Chispas operations in Mexico.