Allspring Global Investments Holdings LLC Buys 989,952 Shares of Coeur Mining, Inc. (NYSE:CDE)

Allspring Global Investments Holdings LLC lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 3,091.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,021,974 shares of the basic materials company's stock after purchasing an additional 989,952 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Coeur Mining worth $6,050,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. City State Bank grew its holdings in Coeur Mining by 56.9% in the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after buying an additional 2,274 shares in the last quarter. Quarry LP grew its holdings in Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after buying an additional 5,968 shares in the last quarter. Optiver Holding B.V. grew its holdings in shares of Coeur Mining by 150.5% during the 4th 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 in the last quarter. DRW Securities LLC acquired a new stake in shares of Coeur Mining during the 4th quarter worth $60,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Coeur Mining during the 1st quarter worth $61,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Trading Down 6.7%

Coeur Mining stock traded down $0.64 during trading hours on Tuesday, hitting $8.85. The stock had a trading volume of 12,630,416 shares, compared to its average volume of 13,251,680. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 34.04 and a beta of 1.32. The business's 50 day simple moving average is $8.12 and its 200-day simple moving average is $6.75. The company has a quick ratio of 0.62, a current ratio of 1.93 and a debt-to-equity ratio of 0.17. Coeur Mining, Inc. has a one year low of $4.57 and a one year high of $9.69.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. The company's revenue was up 69.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Pierre Beaudoin sold 60,551 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the sale, the director owned 188,362 shares of the company's stock, valued at $1,375,042.60. This trade represents a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.40, for a total value of $91,390.00. Following the sale, the chief accounting officer directly owned 122,104 shares of the company's stock, valued at $903,569.60. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,061 shares of company stock valued at $667,775. Company insiders own 1.56% of the company's stock.

Analyst Upgrades and Downgrades

CDE has been the topic of several analyst reports. National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Roth Capital reissued a "buy" rating and set a $12.00 target price (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. Raymond James Financial restated an "outperform" rating and set a $8.50 price objective on shares of Coeur Mining in a research report on Wednesday, April 2nd. Finally, TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $9.21.

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.