Jacobs Levy Equity Management Inc. Lowers Position in Coeur Mining, Inc. $CDE

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Coeur Mining, Inc. by 2.2%, selling 82,988 shares and now owning approximately 0.57% of the company, valued at $21.5 million.
• Coeur Mining reported earnings of $0.20 per share which exceeded analysts' expectations, alongside revenues of $480.65 million for the quarter, marking a 116.5% increase from the previous year.
• Analyst ratings for Coeur Mining include multiple upgrades, with a consensus rating of "Buy" and a target price around $12.00, reflecting a positive outlook for the company’s stock performance.

Jacobs Levy Equity Management Inc. reduced its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,627,564 shares of the basic materials company's stock after selling 82,988 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.57% of Coeur Mining worth $21,475,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Coeur Mining by 57.3% during the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after buying an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Coeur Mining by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock worth $128,774,000 after acquiring an additional 4,594,097 shares during the period. Tidal Investments LLC increased its position in shares of Coeur Mining by 11.1% during the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock worth $76,326,000 after acquiring an additional 1,332,684 shares during the period. Sprott Inc. increased its holdings in Coeur Mining by 889.3% during the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock worth $66,963,000 after purchasing an additional 10,180,102 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in Coeur Mining by 60.9% during the 1st 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 period. 63.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coeur Mining

In other Coeur Mining news, CEO Mitchell J. Krebs sold 125,000 shares of the firm's 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 directly owned 2,197,309 shares of the company's stock, valued at approximately $32,190,576.85. This trade represents a 5.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Aoife Mcgrath sold 8,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total value of $93,520.00. Following the transaction, the senior vice president directly owned 203,318 shares in the company, valued at approximately $2,376,787.42. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,619 shares of company stock worth $6,626,362 in the last three months. Company insiders own 1.50% of the company's stock.

Coeur Mining Stock Performance

NYSE:CDE traded up $0.03 during mid-day trading on Friday, reaching $15.40. 6,577,040 shares of the stock were exchanged, compared to its average volume of 16,294,246. The company has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $8.34. The stock has a market capitalization of $9.89 billion, a P/E ratio of 41.64 and a beta of 1.19. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $15.75.

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, topping analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $480.65 million for 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%. The company's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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