Coeur Mining, Inc. $CDE Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp significantly increased its stake in Coeur Mining, owning 5,771,064 shares after acquiring an additional 1,844,249 shares in the first quarter.
• Insider transactions included Director Pierre Beaudoin selling 48,362 shares and CAO Kenneth J. Watkinson selling 8,000 shares of Coeur Mining stock on the same day.
• Coeur Mining reported $480.65 million in revenue for the last quarter, surpassing analysts' expectations, with a significant 116.5% year-over-year revenue growth.

Northern Trust Corp increased its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 47.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,771,064 shares of the basic materials company's stock after purchasing an additional 1,844,249 shares during the period. Northern Trust Corp owned 0.90% of Coeur Mining worth $34,165,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. City State Bank grew its position in Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 2,274 shares during the last quarter. Navellier & Associates Inc. raised its position in shares of Coeur Mining by 8.9% in the 1st quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company's stock worth $228,000 after acquiring an additional 3,411 shares in the last quarter. Summer Road LLC bought a new position in shares of Coeur Mining during the first quarter valued at approximately $28,000. Highland Capital Management LLC grew its position in Coeur Mining by 23.1% during the 1st quarter. Highland Capital Management LLC now owns 28,645 shares of the basic materials company's stock valued at $170,000 after purchasing an additional 5,378 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in Coeur Mining by 11.0% during the 1st quarter. Sowell Financial Services LLC now owns 55,830 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 5,554 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Stock Up 1.3%

NYSE CDE traded up $0.17 during trading on Wednesday, hitting $13.83. The company's stock had a trading volume of 12,351,156 shares, compared to its average volume of 16,346,842. Coeur Mining, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $14.13. The business's 50 day simple moving average is $10.27 and its 200-day simple moving average is $7.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The company has a market cap of $8.89 billion, a PE ratio of 37.23 and a beta of 1.19.

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 for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The company's revenue was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, equities analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Coeur Mining news, Director Pierre Beaudoin sold 48,362 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the transaction, the director owned 140,000 shares in the company, valued at approximately $1,619,800. The trade was a 25.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 143,007 shares in the company, 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 266,619 shares of company stock worth $2,975,112 in the last quarter. Company insiders own 1.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CDE shares. National Bankshares set a $12.00 price objective on Coeur Mining in a research 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 reiterated a "buy" rating and issued a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 7th. Zacks Research upgraded shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets raised their price target on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Coeur Mining has a consensus rating of "Buy" and a consensus target price of $9.79.

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.