Algert Global LLC Purchases 111,874 Shares of Coeur Mining, Inc. $CDE

Key Points

• Algert Global LLC increased its stake in Coeur Mining by 123.2% in the first quarter, owning shares now valued at $1.20 million.
• Vanguard Group boosted its investment in Coeur Mining by 57.3%, now holding shares worth approximately $378.9 million.
• Coeur Mining reported a 116.5% year-over-year increase in revenue for the last quarter, with earnings of $0.20 per share, beating analyst expectations.

Algert Global LLC boosted its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 123.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,710 shares of the basic materials company's stock after purchasing an additional 111,874 shares during the period. Algert Global LLC's holdings in Coeur Mining were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CDE. Wells Fargo & Company MN grew its holdings in Coeur Mining by 6.7% during the 4th quarter. Wells Fargo & Company MN now owns 369,517 shares of the basic materials company's stock valued at $2,114,000 after purchasing an additional 23,198 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Coeur Mining by 192.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,765 shares of the basic materials company's stock valued at $182,000 after purchasing an additional 20,893 shares during the last quarter. Raymond James Financial Inc. bought a new position in Coeur Mining during the 4th quarter valued at about $3,738,000. Barclays PLC grew its holdings in Coeur Mining by 1.4% during the 4th quarter. Barclays PLC now owns 975,765 shares of the basic materials company's stock valued at $5,581,000 after purchasing an additional 13,113 shares during the last quarter. Finally, Mariner LLC grew its holdings in Coeur Mining by 65.0% during the 4th quarter. Mariner LLC now owns 77,824 shares of the basic materials company's stock valued at $445,000 after purchasing an additional 30,667 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Stock Up 1.3%

Shares of CDE traded up $0.17 during mid-day trading on Wednesday, hitting $12.47. The company's stock had a trading volume of 7,015,434 shares, compared to its average volume of 16,364,850. The company's 50-day moving average is $9.87 and its 200-day moving average is $7.73. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $12.56. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 33.71 and a beta of 1.16. 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 (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 for the quarter, topping the consensus estimate of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The firm had revenue of $480.65 million during the quarter, compared to analysts' expectations of $438.40 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The company's revenue was up 116.5% compared to the same quarter last year. On average, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Coeur Mining

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

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.