257,680 Shares in Coeur Mining, Inc. (NYSE:CDE) Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. acquired 257,680 shares of Coeur Mining, Inc., valued at approximately $1,525,000, as disclosed in a recent 13F filing.
• Significant increases in stakes were made by other hedge funds, with City State Bank increasing its ownership by 56.9% and Quarry LP boosting its holdings by 853.8%.
• Coeur Mining reported a quarterly earnings of $0.20 per share, exceeding expectations, with a revenue of $480.65 million—up 116.5% year-over-year.

iA Global Asset Management Inc. purchased a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 257,680 shares of the basic materials company's stock, valued at approximately $1,525,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City State Bank increased its stake in shares of Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after buying an additional 2,274 shares during the last quarter. Quarry LP boosted its holdings in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after purchasing an additional 5,968 shares during the period. Optiver Holding B.V. boosted its holdings in Coeur Mining by 150.5% in the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock worth $47,000 after purchasing an additional 4,903 shares during the period. Banque Cantonale Vaudoise acquired a new position in Coeur Mining in the first quarter worth $53,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Coeur Mining in the first quarter worth $60,000. Institutional investors own 63.01% of the company's stock.

Insider Activity at Coeur Mining

In related news, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the sale, the director directly owned 188,362 shares in the company, valued at $1,375,042.60. The trade was a 24.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the sale, the director owned 101,841 shares in the company, valued at approximately $797,415.03. This represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock worth $667,775 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Performance

Shares of CDE opened at $9.90 on Thursday. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $9.97. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 38.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93. The firm has a fifty day moving average of $9.08 and a 200-day moving average of $7.21.

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

Analyst Ratings Changes

A number of research firms have commented on CDE. National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $12.00 price objective (up previously from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Coeur Mining currently has a consensus rating of "Buy" and an average target price of $9.21.

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.

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