Graham Capital Management L.P. Sells 55,273 Shares of Coeur Mining, Inc. $CDE

Key Points

• Graham Capital Management L.P. reduced its stake in Coeur Mining by 15.6%, now owning 299,903 shares worth approximately $1.78 million.
• Institutional investors collectively own 63.01% of Coeur Mining's stock, with significant stakes raised by firms like Vanguard Group and Sprott Inc. during the first quarter.
• Coeur Mining's shares currently have a consensus rating of Buy among analysts, with a price target of $9.79 based on recent evaluations.

Graham Capital Management L.P. trimmed its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 15.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 299,903 shares of the basic materials company's stock after selling 55,273 shares during the period. Graham Capital Management L.P.'s holdings in Coeur Mining were worth $1,775,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Freedom Investment Management Inc. raised its holdings in shares of Coeur Mining by 3.6% during the 1st quarter. Freedom Investment Management Inc. now owns 64,444 shares of the basic materials company's stock valued at $382,000 after buying an additional 2,253 shares in the last quarter. City State Bank raised its holdings in shares of Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after buying an additional 2,274 shares in the last quarter. Navellier & Associates Inc. increased its stake in Coeur Mining by 8.9% in the 1st quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company's stock worth $228,000 after purchasing an additional 3,411 shares during the period. MAI Capital Management purchased a new position in Coeur Mining in the 1st quarter worth approximately $25,000. Finally, Summer Road LLC purchased a new position in Coeur Mining in the 1st quarter worth approximately $28,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Coeur Mining Stock Up 0.6%

CDE stock traded up $0.08 during midday trading on Monday, hitting $14.75. The stock had a trading volume of 4,839,396 shares, compared to its average volume of 16,348,776. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 39.89 and a beta of 1.19. The business has a 50-day moving average of $10.59 and a two-hundred day moving average of $8.12. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The company had revenue of $480.65 million for the quarter, compared to analysts' expectations of $438.40 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm's revenue for the quarter was up 116.5% on a year-over-year basis. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total value of $1,227,084.00. Following the sale, the senior vice president directly owned 568,623 shares of the company's stock, valued at approximately $6,823,476. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pierre Beaudoin sold 48,362 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the completion of the sale, the director directly owned 140,000 shares in the company, valued at approximately $1,619,800. This represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 266,619 shares of company stock valued at $2,975,112. Insiders own 1.56% of the company's stock.

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.