383,373 Shares in Coeur Mining, Inc. (NYSE:CDE) Acquired by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. has acquired a new position in Coeur Mining, investing approximately $2.27 million by purchasing 383,373 shares during the first quarter.
• Coeur Mining's shares were reported at $8.67 with a market capitalization of $5.55 billion, while the company saw a significant revenue increase of 69.0% year-over-year in its recent earnings report.
• Insider trading activities indicated a 14.42% decrease in ownership by Director Eduardo Luna after selling shares, as company insiders have sold a total of 90,061 shares worth approximately $667,775 in the past three months.

Empire Life Investments Inc. bought a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 383,373 shares of the basic materials company's stock, valued at approximately $2,270,000. Empire Life Investments Inc. owned about 0.06% of Coeur Mining at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CDE. Commonwealth Equity Services LLC increased its stake in shares of Coeur Mining by 103.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 52,031 shares of the basic materials company's stock valued at $298,000 after acquiring an additional 26,493 shares in the last quarter. Sei Investments Co. increased its stake in Coeur Mining by 95.9% in the fourth quarter. Sei Investments Co. now owns 63,515 shares of the basic materials company's stock valued at $363,000 after purchasing an additional 31,085 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Coeur Mining by 37.5% during the fourth quarter. LPL Financial LLC now owns 291,920 shares of the basic materials company's stock valued at $1,670,000 after purchasing an additional 79,558 shares during the period. Vanguard Group Inc. raised its holdings in shares of Coeur Mining by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company's stock valued at $232,805,000 after purchasing an additional 3,178,785 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Coeur Mining by 577.3% during the 4th quarter. Prudential Financial Inc. now owns 204,846 shares of the basic materials company's stock worth $1,172,000 after purchasing an additional 174,600 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Buying and Selling at Coeur Mining

In other news, Director Eduardo Luna sold 17,160 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the transaction, the director directly owned 101,841 shares of the company's stock, valued at $797,415.03. This represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the sale, the director directly owned 188,362 shares in the company, valued at $1,375,042.60. This trade represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock worth $667,775 over the last three months. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday. Roth Capital restated a "buy" rating on shares of Coeur Mining in a report on Thursday. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research report on Friday, June 13th. Finally, National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.64.

Coeur Mining Stock Performance

Shares of NYSE CDE traded up $1.23 during midday trading on Thursday, reaching $11.12. The company's stock had a trading volume of 21,596,548 shares, compared to its average volume of 16,619,168. The stock has a market capitalization of $7.11 billion, a P/E ratio of 42.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.93 and a quick ratio of 0.62. The firm has a 50 day moving average price of $9.08 and a 200-day moving average price of $7.21. Coeur Mining, Inc. has a 12-month low of $4.58 and a 12-month high of $11.30.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The business's revenue for the quarter was up 116.5% on a year-over-year basis. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Coeur Mining 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.