Invesco Ltd. Has $28.98 Million Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Invesco Ltd. significantly increased its stake in Coeur Mining by 115.4% in the first quarter, acquiring an additional 2,622,490 shares, bringing its total ownership to approximately 0.77% valued at $28.98 million.
• Coeur Mining's stock opened at $11.25, showing a 4.6% decline, and has experienced a notable 116.5% revenue growth year-over-year, reporting earnings of $0.20 per share in its last quarter.
• Several analysts have favorable views on Coeur Mining, with target prices ranging from $12.00 to $13.00, supported by ratings that include three "Strong Buy" and six "Buy" recommendations.

Invesco Ltd. raised its holdings in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 115.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,895,688 shares of the basic materials company's stock after buying an additional 2,622,490 shares during the quarter. Invesco Ltd. owned 0.77% of Coeur Mining worth $28,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes 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 during 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 during the last quarter. Optiver Holding B.V. grew its holdings 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 buying an additional 4,903 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Coeur Mining in the 1st quarter valued at approximately $53,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Coeur Mining during the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. National Bankshares set a $12.00 price objective on Coeur Mining in a report on Friday, June 13th. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Zacks Research raised Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Finally, Roth Capital reissued a "buy" rating and set a $13.00 price objective on shares of Coeur Mining in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.79.

Insiders Place Their Bets

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the transaction, the chief accounting officer owned 143,007 shares in the company, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total value of $93,520.00. Following the completion of the transaction, the senior vice president owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,619 shares of company stock worth $2,975,112. 1.56% of the stock is owned by company insiders.

Coeur Mining Price Performance

CDE traded up $0.08 during trading on Monday, hitting $12.15. The company's stock had a trading volume of 7,902,579 shares, compared to its average volume of 13,861,670. The firm's 50 day moving average price is $9.80 and its two-hundred day moving average price is $7.70. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a 12 month low of $4.58 and a 12 month high of $12.31. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 32.84 and a beta of 1.16.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The business's revenue for the quarter was up 116.5% compared to the same quarter last year. Sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

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.