Northwest & Ethical Investments L.P. Makes New $499,000 Investment in Coeur Mining, Inc. $CDE

Key Points

• Northwest & Ethical Investments L.P. purchased 84,424 shares of Coeur Mining, Inc. valued at approximately $499,000 during the first quarter, highlighting increased institutional interest in the company.
• Coeur Mining reported a 116.5% increase in quarterly revenue year-over-year, with earnings per share of $0.20, surpassing estimates and showing strong growth potential.
• Institutional ownership of Coeur Mining is currently at 63.01%, with various firms including Vanguard and Dimensional Fund Advisors significantly increasing their stakes in the company.

Northwest & Ethical Investments L.P. bought a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 84,424 shares of the basic materials company's stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDE. Vanguard Group Inc. boosted its holdings in Coeur Mining by 57.3% during 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 acquiring an additional 23,303,638 shares during the period. Nuveen LLC purchased a new position in Coeur Mining during the 1st quarter valued at about $27,519,000. Dimensional Fund Advisors LP boosted its holdings in Coeur Mining by 26.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock valued at $128,774,000 after acquiring an additional 4,594,097 shares during the period. Two Sigma Advisers LP boosted its holdings in Coeur Mining by 404.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company's stock valued at $29,110,000 after acquiring an additional 4,080,600 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Coeur Mining during the 4th quarter valued at about $21,224,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CDE has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Zacks Research raised Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. National Bankshares set a $12.00 price target on Coeur Mining in a research report on Friday, June 13th. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Coeur Mining has an average rating of "Buy" and a consensus target price of $9.79.

Insider Transactions at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the transaction, the chief accounting officer owned 143,007 shares of the company's stock, valued at $1,661,741.34. The trade was a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Casey M. Nault sold 102,257 shares of Coeur Mining stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total value of $1,227,084.00. Following the transaction, the senior vice president directly owned 568,623 shares in the company, valued at approximately $6,823,476. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 266,619 shares of company stock worth $2,975,112. 1.56% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Up 0.7%

Shares of NYSE CDE traded up $0.08 during midday trading on Monday, hitting $12.15. 7,902,579 shares of the company's stock were exchanged, compared to its average volume of 13,861,670. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. Coeur Mining, Inc. has a twelve month low of $4.58 and a twelve month high of $12.31. The company has a market cap of $7.81 billion, a PE ratio of 32.84 and a beta of 1.16. The firm's fifty day simple moving average is $9.80 and its 200-day simple moving average is $7.70.

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

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.