Coeur Mining, Inc. $CDE Position Increased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Coeur Mining by 179.7% in the first quarter, acquiring a total of 226,664 shares valued at approximately $1.35 million.
• Coeur Mining's stock received several analyst upgrades, including a "strong-buy" rating from National Bank Financial, while the consensus rating remains a "Buy" with an average price target of $9.79.
• In their latest earnings report, Coeur Mining posted $0.20 EPS, beating estimates, with revenues of $480.65 million, reflecting a 116.5% year-over-year increase.

Hsbc Holdings PLC boosted its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 179.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,664 shares of the basic materials company's stock after acquiring an additional 145,619 shares during the period. Hsbc Holdings PLC's holdings in Coeur Mining were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in 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 acquiring an additional 129,574 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Coeur Mining during the first quarter valued at $540,000. Allspring Global Investments Holdings LLC increased its stake in Coeur Mining by 3,091.5% during 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 during the last quarter. Amalgamated Bank increased its stake in Coeur Mining by 71.0% during 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 during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Coeur Mining during the first quarter valued at $813,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coeur Mining

In other Coeur Mining news, Director Pierre Beaudoin sold 48,362 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 of the company's stock, valued at approximately $1,619,800. This represents a 25.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Aoife Mcgrath sold 8,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the sale, the senior vice president directly owned 203,318 shares of the company's stock, valued at $2,376,787.42. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,619 shares of company stock worth $2,975,112. 1.56% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Performance

Shares of Coeur Mining stock traded up $0.61 during trading on Monday, hitting $13.17. 14,126,381 shares of the stock were exchanged, compared to its average volume of 14,006,552. The stock's fifty day moving average is $10.09 and its 200 day moving average is $7.86. The stock has a market cap of $8.47 billion, a PE ratio of 35.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. Coeur Mining, Inc. has a 12 month low of $4.58 and a 12 month high of $13.18.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results 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. The firm had revenue of $480.65 million during the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. Coeur Mining's revenue was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

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

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.