CenterBook Partners LP Buys 29,636 Shares of 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 grew its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 15.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CDE. City State Bank boosted its holdings in shares of 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 during the last quarter. Quarry LP raised its stake 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 acquiring an additional 5,968 shares during the period. Optiver Holding B.V. raised its stake in Coeur Mining by 150.5% in the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 4,903 shares during the period. Banque Cantonale Vaudoise bought a new stake in Coeur Mining in the 1st quarter valued at $53,000. Finally, DRW Securities LLC bought a new stake in Coeur Mining in the 4th quarter valued at $60,000. 63.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CDE has been the topic of several recent research reports. BMO Capital Markets increased their price objective on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday. Roth Capital reissued a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a report on Thursday. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Finally, National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. One analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Coeur Mining presently has an average rating of "Buy" and a consensus price target of $9.79.

Insiders Place Their Bets

In related news, Director Eduardo Luna sold 17,160 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total value of $134,362.80. Following the transaction, the director directly owned 101,841 shares of the company's stock, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Coeur Mining Stock Up 14.2%

Shares of NYSE:CDE opened at $11.29 on Friday. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $11.31. The stock has a market cap of $7.22 billion, a P/E ratio of 30.52 and a beta of 1.16. The business's 50 day moving average is $9.17 and its 200 day moving average is $7.26. 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 (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a return on equity of 16.94% and a net margin of 13.06%. The business's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Sell-side analysts predict 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.

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