Jennison Associates LLC Acquires Shares of 99,618 Coeur Mining, Inc. (NYSE:CDE)

Jennison Associates LLC acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 99,618 shares of the basic materials company's stock, valued at approximately $590,000.

A number of other institutional investors have also modified their holdings of the stock. City State Bank increased its stake in shares of Coeur Mining by 56.9% in the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 2,274 shares in the last quarter. Quarry LP increased its stake in shares of Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 5,968 shares in the last quarter. Optiver Holding B.V. increased its stake in shares of Coeur Mining by 150.5% in the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 4,903 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Coeur Mining in the 4th quarter valued at about $60,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Coeur Mining in the 1st quarter valued at about $61,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Coeur Mining Trading Down 1.1%

NYSE CDE traded down $0.11 on Friday, reaching $9.30. The stock had a trading volume of 9,065,669 shares, compared to its average volume of 10,154,668. Coeur Mining, Inc. has a 12-month low of $4.57 and a 12-month high of $9.97. The stock has a fifty day moving average price of $8.90 and a two-hundred day moving average price of $7.07. The company has a quick ratio of 0.62, a current ratio of 1.93 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 35.75 and a beta of 1.32.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. During the same quarter last year, the company earned ($0.05) EPS. The firm's quarterly revenue was up 69.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at Coeur Mining

In related news, Director Eduardo Luna sold 17,160 shares of the business's stock in a transaction 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 owned 101,841 shares in the company, valued at approximately $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction 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 transaction, the director owned 188,362 shares of the company's stock, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CDE shares. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Raymond James Financial reiterated an "outperform" rating and issued a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. Roth Capital reiterated a "buy" rating and issued a $12.00 price objective (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. Finally, National Bankshares set a $12.00 price objective on Coeur Mining in a report on Friday, June 13th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $9.21.

Coeur Mining Company 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.