HighTower Advisors LLC Acquires 225,107 Shares of Coeur Mining, Inc. $CDE

Key Points

• HighTower Advisors LLC increased its stake in Coeur Mining, Inc. by 579.3%, acquiring 225,107 additional shares during the 1st quarter, bringing its total ownership to approximately $1.56 million.
• Insider transactions include Director Pierre Beaudoin selling 48,362 shares, resulting in a 25.68% decrease in his ownership, while Chief Accounting Officer Kenneth J. Watkinson sold 8,000 shares, leading to a 5.30% decrease in his holdings.
• Brokerages have issued favorable ratings for Coeur Mining, with a consensus target price of $9.79 and multiple upgrades from analysts, including a strong-buy rating by National Bank Financial.

HighTower Advisors LLC grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 579.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 263,967 shares of the basic materials company's stock after acquiring an additional 225,107 shares during the period. HighTower Advisors LLC's holdings in Coeur Mining were worth $1,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CDE. Vanguard Group Inc. lifted its position in shares of 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 valued at $378,903,000 after acquiring an additional 23,303,638 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Coeur Mining during the 1st quarter valued at $27,519,000. 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 valued at $29,110,000 after acquiring an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Coeur Mining during the 4th quarter valued at $21,224,000. Finally, 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 valued at $50,564,000 after acquiring an additional 3,233,383 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

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

Coeur Mining Stock Up 3.6%

Shares of NYSE CDE traded up $0.46 during mid-day trading on Friday, reaching $13.02. The company had a trading volume of 7,927,489 shares, compared to its average volume of 16,304,340. 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 capitalization of $8.37 billion, a PE ratio of 35.18 and a beta of 1.16. Coeur Mining, Inc. has a twelve month low of $4.58 and a twelve month high of $13.03. The stock's 50 day moving average is $10.01 and its 200-day moving average is $7.81.

Coeur Mining (NYSE:CDE - Get Free Report) last posted 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. The firm had revenue of $480.65 million for 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 business's quarterly revenue was up 116.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Casey M. Nault sold 102,257 shares of Coeur Mining stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the sale, the senior vice president directly owned 568,623 shares of the company's stock, valued at $6,823,476. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total value of $93,520.00. Following the sale, the senior vice president directly owned 203,318 shares in the company, valued at approximately $2,376,787.42. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,619 shares of company stock valued at $2,975,112 over the last three months. 1.50% of the stock is currently owned by insiders.

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.