Baird Financial Group Inc. Buys Shares of 1,028,765 Coeur Mining, Inc. $CDE

Key Points

• Baird Financial Group initiated a position in Coeur Mining by purchasing 1,028,765 shares worth approximately $16.8 million, while institutional investors collectively own 63.01% of the company.
• Coeur Mining insiders have sold 51,000 shares valued at roughly $1.06 million over the past 90 days, including recent sales by the company’s executive vice president and CFO.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $25.50, but Coeur’s latest quarter missed expectations, reporting $0.12 EPS versus $0.26 expected and revenue of $1.09 billion versus $1.24 billion forecast.

Baird Financial Group Inc. purchased a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,028,765 shares of the basic materials company's stock, valued at approximately $16,789,000. Baird Financial Group Inc. owned about 0.10% of Coeur Mining at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ancora Advisors LLC acquired a new position in Coeur Mining in the 2nd quarter worth about $26,000. Triumph Capital Management lifted its holdings in shares of Coeur Mining by 300.0% during the 4th quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company's stock valued at $29,000 after buying an additional 1,200 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Coeur Mining by 105.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock valued at $26,000 after buying an additional 820 shares in the last quarter. Kingdom Financial Group LLC. bought a new stake in shares of Coeur Mining in the 4th quarter valued at approximately $32,000. Finally, JPL Wealth Management LLC acquired a new position in Coeur Mining in the third quarter worth approximately $35,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coeur Mining

In related news, EVP Casey Nault sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president owned 540,086 shares of the company's stock, valued at approximately $10,801,720. The trade was a 1.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Whelan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 51,000 shares of company stock worth $1,055,070. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CDE. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research note on Friday, August 7th. Finally, Scotiabank cut their price target on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Coeur Mining currently has an average rating of "Moderate Buy" and an average target price of $25.50.

Coeur Mining Stock Performance

NYSE:CDE opened at $20.59 on Friday. Coeur Mining, Inc. has a 1 year low of $13.55 and a 1 year high of $27.77. The firm's fifty day simple moving average is $18.02 and its 200 day simple moving average is $18.73. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.16 billion, a PE ratio of 17.60 and a beta of 1.39.

Coeur Mining (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $0.20 EPS. The firm's revenue was up 125.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.9 EPS for the current year.

Coeur Mining Company Profile

Coeur Mining, Inc NYSE: CDE is a precious metals mining company that explores for, develops, and produces gold and silver. The company's activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur's operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.

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