Voloridge Investment Management LLC Sells 1,856,420 Shares of Coeur Mining, Inc. (NYSE:CDE)

Voloridge Investment Management LLC cut its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 70.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 787,734 shares of the basic materials company's stock after selling 1,856,420 shares during the period. Voloridge Investment Management LLC owned approximately 0.20% of Coeur Mining worth $4,506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP grew its position in shares of Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 5,968 shares during the last quarter. Optiver Holding B.V. boosted its position in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock worth $47,000 after acquiring an additional 4,903 shares during the last quarter. DRW Securities LLC acquired a new stake in Coeur Mining during the fourth quarter worth approximately $60,000. ZEGA Investments LLC acquired a new stake in Coeur Mining during the fourth quarter worth approximately $64,000. Finally, Freestone Grove Partners LP acquired a new stake in Coeur Mining during the fourth quarter worth approximately $65,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDE has been the topic of a number of research analyst reports. TD Securities initiated coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They issued a "buy" rating and a $7.00 price target on the stock. TD Cowen upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Tuesday, March 11th. Cormark upgraded shares of Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. Roth Mkm decreased their price target on shares of Coeur Mining from $8.50 to $8.25 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, BMO Capital Markets initiated coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They issued an "outperform" rating and a $9.00 price target on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coeur Mining has an average rating of "Buy" and an average target price of $8.10.

Coeur Mining Stock Down 0.5%

CDE stock traded down $0.04 during trading hours on Friday, hitting $8.10. The company's stock had a trading volume of 11,653,623 shares, compared to its average volume of 12,523,565. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.18 billion, a PE ratio of 67.51 and a beta of 1.24. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $8.46. The stock has a 50 day moving average price of $6.38 and a two-hundred day moving average price of $6.29.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The company's revenue was up 69.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, equities research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at Coeur Mining

In related news, Director Pierre Beaudoin sold 60,551 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the sale, the director now owns 188,362 shares in the company, valued at $1,375,042.60. This trade represents a 24.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eduardo Luna sold 17,160 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total transaction of $134,362.80. Following the sale, the director now directly owns 101,841 shares in the company, valued at approximately $797,415.03. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,061 shares of company stock worth $667,775 in the last ninety days. 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.