2,128,963 Shares in Coeur Mining, Inc. (NYSE:CDE) Purchased by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP invested approximately $12.60 million in Coeur Mining, acquiring over 2 million shares, representing about 2.9% of its portfolio.
• The company reported $0.11 earnings per share for the latest quarter, surpassing estimates, with revenues up 69% compared to the previous year.
• Coeur Mining is seeing significant institutional interest, with 63.01% of the stock owned by institutional investors, and positive ratings from multiple analysts including a "strong-buy" from National Bank Financial.

Fourth Sail Capital LP acquired a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,128,963 shares of the basic materials company's stock, valued at approximately $12,603,000. Coeur Mining comprises 2.9% of Fourth Sail Capital LP's portfolio, making the stock its 16th biggest position. Fourth Sail Capital LP owned about 0.33% of Coeur Mining at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CDE. Two Sigma Advisers LP increased its position in Coeur Mining by 404.6% in 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 period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Coeur Mining in the fourth quarter valued at approximately $21,224,000. Jupiter Asset Management Ltd. raised its stake in shares of Coeur Mining by 60.9% during the first quarter. Jupiter Asset Management Ltd. now owns 8,541,297 shares of the basic materials company's stock worth $50,564,000 after purchasing an additional 3,233,383 shares during the last quarter. Ruffer LLP acquired a new stake in shares of Coeur Mining during the first quarter worth $17,673,000. Finally, Marshall Wace LLP grew its position in Coeur Mining by 12,934.3% in the 4th quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company's stock valued at $16,998,000 after buying an additional 2,948,880 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Coeur Mining Price Performance

Shares of CDE stock traded up $0.37 during trading hours on Friday, hitting $11.65. The company's stock had a trading volume of 19,457,671 shares, compared to its average volume of 16,690,625. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $9.17 and a 200-day moving average of $7.26. Coeur Mining, Inc. has a twelve month low of $4.58 and a twelve month high of $11.72. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 31.49 and a beta of 1.16.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million for the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a return on equity of 16.94% and a net margin of 13.06%. Coeur Mining's quarterly revenue was up 116.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

CDE has been the subject of several research analyst reports. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. BMO Capital Markets boosted their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday. Roth Capital reaffirmed a "buy" rating and issued a $13.00 target price on shares of Coeur Mining in a report on Thursday. Finally, National Bankshares set a $12.00 price target on Coeur Mining in a research note on Friday, June 13th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $9.79.

Insider Activity

In related news, Director Eduardo Luna sold 17,160 shares of Coeur Mining 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 completion of the sale, the director owned 101,841 shares in the company, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

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.