CenterBook Partners LP Grows Position in Coeur Mining, Inc. (NYSE:CDE)

Key Points

• CenterBook Partners LP increased its stake in Coeur Mining, acquiring an additional 29,636 shares, bringing its total holdings to 224,070 shares valued at approximately $1.33 million.
• The stock price targets for CDE have been adjusted upwards, with BMO Capital Markets setting a target of $12.00 and Roth Capital at $13.00, reflecting a generally positive outlook among analysts.
• Coeur Mining reported a significant increase in revenue, achieving $480.65 million with an EPS of $0.20 for the last quarter, surpassing analysts' expectations and up 116.5% compared to the same quarter last year.

CenterBook Partners LP lifted its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 224,070 shares of the basic materials company's stock after acquiring an additional 29,636 shares during the quarter. CenterBook Partners LP's holdings in Coeur Mining were worth $1,326,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CDE. Vanguard Group Inc. lifted 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 worth $378,903,000 after buying an additional 23,303,638 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of 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 worth $29,110,000 after purchasing an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Coeur Mining during the 4th quarter worth $21,224,000. Jupiter Asset Management Ltd. lifted its position in shares of Coeur Mining by 60.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 8,541,297 shares of the basic materials company's stock worth $50,564,000 after purchasing an additional 3,233,383 shares during the last quarter. Finally, Ruffer LLP acquired a new stake in Coeur Mining during the first quarter worth approximately $17,673,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CDE shares. BMO Capital Markets increased their target price 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 target price on shares of Coeur Mining in a research report on Friday, June 13th. National Bank Financial raised shares of 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 target price on shares of Coeur Mining in a research report on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Coeur Mining currently has a consensus rating of "Buy" and a consensus price target of $9.79.

Insider Activity

In other news, Director Eduardo Luna sold 17,160 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total value of $134,362.80. Following the completion of the sale, the director owned 101,841 shares in the company, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer owned 143,007 shares of the company's stock, valued at $1,661,741.34. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,522 shares of company stock worth $1,788,871 over the last quarter. Insiders own 1.56% of the company's stock.

Coeur Mining Stock Performance

Coeur Mining stock traded up $0.13 during midday trading on Tuesday, hitting $11.74. 6,837,666 shares of the company's stock were exchanged, compared to its average volume of 16,616,471. Coeur Mining, Inc. has a 12-month low of $4.58 and a 12-month high of $11.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 31.79 and a beta of 1.16. The firm's 50 day simple moving average is $9.30 and its 200 day simple moving average is $7.35.

Coeur Mining (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS 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 company had revenue of $480.65 million during the quarter, compared to analysts' expectations of $438.40 million. During the same quarter last year, the business earned ($0.01) EPS. The business's revenue was up 116.5% on a year-over-year basis. Equities research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Coeur Mining 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.