Corebridge Financial Inc. Purchases 109,765 Shares of Coeur Mining, Inc. $CDE

Key Points

• Corebridge Financial Inc. increased its stake in Coeur Mining, Inc. by 55.9%, acquiring an additional 109,765 shares, bringing total holdings to 306,197 shares valued at approximately $1.8 million.
• Other institutional gains included Cambridge Investment Research Advisors raising its stake by 150.4% and Allspring Global Investments boosting holdings by an astonishing 3,091.5%, indicating strong investor interest in Coeur Mining.
• The company's recent earnings report showed a 116.5% year-over-year revenue increase, with earnings per share beating estimates at $0.20, solidifying a positive outlook among analysts and investors.

Corebridge Financial Inc. grew its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 55.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,197 shares of the basic materials company's stock after purchasing an additional 109,765 shares during the period. Corebridge Financial Inc.'s holdings in Coeur Mining were worth $1,813,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Coeur Mining by 150.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock valued at $1,277,000 after purchasing an additional 129,574 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Coeur Mining in the first quarter valued at about $540,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Coeur Mining by 3,091.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock valued at $6,050,000 after purchasing an additional 989,952 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Coeur Mining by 71.0% in the first quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock valued at $128,000 after purchasing an additional 8,943 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Coeur Mining in the first quarter valued at about $813,000. 63.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of the company'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 owned 143,007 shares in the company, valued at $1,661,741.34. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Aoife Mcgrath sold 8,000 shares of the company's stock in a transaction that occurred 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 directly owned 203,318 shares in the company, valued at $2,376,787.42. The trade was a 3.79% 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 over the last ninety days. 1.56% of the stock is currently owned by corporate insiders.

Coeur Mining Price Performance

NYSE:CDE opened at $13.65 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock's 50 day moving average price is $10.27 and its two-hundred day moving average price is $7.94. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 36.90 and a beta of 1.19. Coeur Mining, Inc. has a 12-month low of $4.58 and a 12-month high of $13.79.

Coeur Mining (NYSE:CDE - Get Free Report) last released 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. The firm had revenue of $480.65 million for the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a return on equity of 14.38% 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 company earned ($0.01) earnings per share. On average, analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

CDE has been the topic of several analyst reports. National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. BMO Capital Markets upped their target price on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Roth Capital reiterated a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a report on Thursday, August 7th. Finally, Zacks Research upgraded Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $9.79.

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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