Coeur Mining Target of Unusually High Options Trading (NYSE:CDE)

Key Points

• Coeur Mining experienced a significant increase in call options trading, with investors purchasing 8,860 call options, marking an 80% rise over typical volume.
• The company's stock rose by 10.7% to reach $10.95, with a trading volume of over 16.5 million shares.
• Coeur Mining reported earnings with a net margin of 10.11% and revenue up 116.5% compared to the same quarter last year, outperforming analyst estimates.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 8,860 call options on the company. Thisrepresentsanincreaseofapproximately80% compared to the typical volume of 4,920 call options.

Coeur Mining Stock Up 10.7%

CDE traded up $1.06 on Thursday, reaching $10.95. 16,530,786 shares of the company traded hands, compared to its average volume of 16,586,543. The stock's 50 day moving average price is $9.08 and its 200-day moving average price is $7.21. Coeur Mining has a 52-week low of $4.58 and a 52-week high of $11.30. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 42.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.93 and a quick ratio of 0.62.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. The company's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, sell-side analysts expect that Coeur Mining will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDE has been the subject of several analyst reports. Roth Capital reissued a "buy" rating and set a $12.00 price target (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. National Bankshares set a $12.00 price target on shares of Coeur Mining in a report on Friday, June 13th. National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Finally, BMO Capital Markets upped their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $9.64.

Insider Buying and Selling

In related news, CAO Kenneth J. Watkinson sold 12,350 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the completion of the sale, the chief accounting officer directly owned 122,104 shares of the company's stock, valued at $903,569.60. The trade was a 9.19% 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, Director Eduardo Luna sold 17,160 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the sale, the director directly owned 101,841 shares of the company's stock, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,061 shares of company stock worth $667,775. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Coeur Mining

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Coeur Mining by 57.3% in the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock valued at $378,903,000 after buying an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Coeur Mining by 26.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock worth $128,774,000 after purchasing an additional 4,594,097 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Coeur Mining by 72.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock worth $106,801,000 after purchasing an additional 7,579,901 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Coeur Mining by 11.1% in the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock worth $76,326,000 after purchasing an additional 1,332,684 shares during the last quarter. Finally, Sprott Inc. grew its holdings in shares of Coeur Mining by 889.3% in the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock worth $66,963,000 after purchasing an additional 10,180,102 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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