Coeur Mining, Inc. $CDE Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP significantly reduced its stake in Coeur Mining by 76.0%, holding 18,669 shares valued at $111,000 after selling 59,014 shares during the first quarter.
• Coeur Mining's recent earnings report revealed an EPS of $0.20, surpassing estimates, with revenue hitting $480.65 million, a 116.5% increase from the previous year.
• Multiple firms have updated their ratings on Coeur Mining, with Roth Capital reaffirming a "buy" rating and setting a target price of $13.00, contributing to an average "Buy" rating across analysts.

Aigen Investment Management LP decreased its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 76.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,669 shares of the basic materials company's stock after selling 59,014 shares during the quarter. Aigen Investment Management LP's holdings in Coeur Mining were worth $111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDE. City State Bank raised its position in Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 2,274 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Coeur Mining by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company's stock worth $236,000 after buying an additional 2,624 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in Coeur Mining by 8.9% during the first quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company's stock worth $228,000 after buying an additional 3,411 shares in the last quarter. Optiver Holding B.V. grew its position in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after buying an additional 4,903 shares during the period. Finally, Highland Capital Management LLC increased its holdings in Coeur Mining by 23.1% in the first quarter. Highland Capital Management LLC now owns 28,645 shares of the basic materials company's stock valued at $170,000 after buying an additional 5,378 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. Zacks Research upgraded Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets increased their target price on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. National Bankshares set a $12.00 price target on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reiterated a "buy" rating and issued a $13.00 target price on shares of Coeur Mining in a research report on Thursday, August 7th. Three 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, Coeur Mining has a consensus rating of "Buy" and an average target price of $9.79.

Insider Activity

In other news, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the sale, the senior vice president owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. The trade was a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 164,362 shares of company stock worth $1,748,028. Company insiders own 1.56% of the company's stock.

Coeur Mining Price Performance

CDE traded up $0.1550 during trading on Wednesday, reaching $11.4150. The company's stock had a trading volume of 4,594,902 shares, compared to its average volume of 16,584,445. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $9.59 and a two-hundred day simple moving average of $7.56. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 30.77 and a beta of 1.16. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $11.97.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $480.65 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. As a group, analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

About Coeur Mining

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.