Dynamic Technology Lab Private Ltd Decreases Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Dynamic Technology Lab Private Ltd has reduced its stake in Coeur Mining by 28.8%, selling 57,729 shares and leaving it with holdings worth $846,000.
• Major institutional investors have increased their positions in Coeur Mining, with Northern Trust Corp growing its stake by 10.4% and Ameriprise Financial increasing by 2,776.5% in the last quarter.
• The company's recent quarterly earnings showed a significant revenue increase of 116.5% year-over-year, surpassing analysts’ expectations with earnings of $0.20 per share.

Dynamic Technology Lab Private Ltd reduced its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 28.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,880 shares of the basic materials company's stock after selling 57,729 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Coeur Mining were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDE. MAI Capital Management purchased a new stake in shares of Coeur Mining during the first quarter worth about $25,000. Summer Road LLC bought a new position in Coeur Mining in the first quarter worth about $28,000. City State Bank raised its stake in Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after buying an additional 2,274 shares in the last quarter. State of Wyoming bought a new position in Coeur Mining in the first quarter worth about $52,000. Finally, Banque Cantonale Vaudoise bought a new position in Coeur Mining in the first quarter worth about $53,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Stock Performance

NYSE:CDE traded up $0.17 during trading hours on Friday, reaching $15.54. The company had a trading volume of 12,333,795 shares, compared to its average volume of 13,318,498. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a 52 week low of $4.58 and a 52 week high of $15.75. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 42.01 and a beta of 1.19. The firm's 50 day moving average price is $11.19 and its 200-day moving average price is $8.41.

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 analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The business 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 firm posted ($0.01) EPS. The firm's revenue was up 116.5% on a year-over-year basis. On average, analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Activity

In related news, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction on Friday, August 8th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mitchell J. Krebs sold 125,000 shares of Coeur Mining stock in a transaction on Monday, September 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the transaction, the chief executive officer owned 2,197,309 shares in the company, valued at approximately $32,190,576.85. This trade represents a 5.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 516,619 shares of company stock worth $6,626,362. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

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