Old West Investment Management LLC Purchases 135,716 Shares of Coeur Mining, Inc. (NYSE:CDE)

Old West Investment Management LLC increased its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 54.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 385,716 shares of the basic materials company’s stock after acquiring an additional 135,716 shares during the quarter. Old West Investment Management LLC’s holdings in Coeur Mining were worth $2,654,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Forum Financial Management LP bought a new position in shares of Coeur Mining in the 3rd quarter valued at about $81,000. Van ECK Associates Corp lifted its holdings in Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after buying an additional 365,115 shares during the period. Highland Capital Management LLC bought a new position in Coeur Mining in the third quarter valued at approximately $150,000. Ballentine Partners LLC grew its holdings in Coeur Mining by 31.8% during the 3rd quarter. Ballentine Partners LLC now owns 19,021 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 4,586 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Coeur Mining by 37.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 437,322 shares of the basic materials company’s stock valued at $3,009,000 after acquiring an additional 119,345 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CDE shares. Canaccord Genuity Group upped their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. Raymond James boosted their price objective on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. Cantor Fitzgerald lowered shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Roth Mkm raised their price objective on Coeur Mining from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets raised their price target on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.81.

Coeur Mining Stock Performance

Shares of CDE opened at $6.08 on Wednesday. The company has a market cap of $2.43 billion, a PE ratio of -28.93 and a beta of 1.65. The firm has a 50-day moving average of $6.55 and a 200-day moving average of $6.00. Coeur Mining, Inc. has a one year low of $2.00 and a one year high of $7.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.45.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Coeur Mining had a negative return on equity of 4.59% and a negative net margin of 8.33%. The company had revenue of $222.03 million during the quarter, compared to the consensus estimate of $242.18 million. During the same period in the previous year, the company posted ($0.06) EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities analysts forecast that Coeur Mining, Inc. will post 0.14 earnings per share for the current year.

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.