Vident Advisory LLC Makes New $99,000 Investment in Coeur Mining, Inc. $CDE

Key Points

• Vident Advisory LLC has acquired 16,734 shares of Coeur Mining, Inc., valued at approximately $99,000, marking its new position in the company during the 1st quarter.
• Multiple institutional investors, including Vanguard Group and Sprott Inc., have significantly increased their holdings in Coeur Mining, reflecting a total of 63.01% institutional ownership of the stock.
• The company reported a 116.5% year-over-year revenue increase for the quarter, with earnings per share at $0.20, surpassing analysts' estimates of $0.18.

Vident Advisory LLC purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,734 shares of the basic materials company's stock, valued at approximately $99,000.

A number of other hedge funds have also recently modified their holdings of CDE. Cambridge Investment Research Advisors Inc. lifted its position in shares of Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock worth $1,277,000 after purchasing an additional 129,574 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Coeur Mining during the 1st quarter worth approximately $540,000. Allspring Global Investments Holdings LLC lifted its holdings in Coeur Mining by 3,091.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock worth $6,050,000 after buying an additional 989,952 shares in the last quarter. Amalgamated Bank boosted its position in Coeur Mining by 71.0% in the 1st quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock valued at $128,000 after buying an additional 8,943 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Coeur Mining in the 1st quarter valued at approximately $813,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Buying and Selling at Coeur Mining

In related news, CEO Mitchell J. Krebs sold 125,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 2,197,309 shares of the company's stock, valued at $32,190,576.85. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the completion of the transaction, the director owned 140,000 shares in the company, valued at $1,619,800. This trade represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 516,619 shares of company stock valued at $6,626,362. Corporate insiders own 1.56% of the company's stock.

Coeur Mining Stock Performance

Shares of NYSE CDE traded down $0.65 during trading hours on Tuesday, reaching $16.28. The stock had a trading volume of 18,252,011 shares, compared to its average volume of 12,813,403. The firm has a 50-day moving average of $11.48 and a 200-day moving average of $8.60. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 44.00 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $17.15.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $480.65 million during the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm's revenue for the quarter was up 116.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Equities research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Roth Capital reissued a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a research note on Thursday, August 7th. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares set a $12.00 price objective on Coeur Mining in a research report on Friday, June 13th. Zacks Research raised shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $9.79.

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.