Jump Financial LLC Trims Stock Holdings in Coeur Mining, Inc. $CDE

Key Points

• Jump Financial LLC has significantly reduced its stake in Coeur Mining, Inc. by 75.2%, selling 837,261 shares and retaining just 275,394 shares, valued at approximately $1.63 million.
• Coeur Mining's earnings report showed a net revenue of $480.65 million for the quarter, exceeding analyst estimates, while earnings per share reached $0.20.
• Institutional investors now hold 63.01% of Coeur Mining's stock, with significant increases in holdings from firms like Vanguard and Sprott, which grew by 57.3% and 889.3% respectively during the 1st quarter.

Jump Financial LLC lowered its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 75.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,394 shares of the basic materials company's stock after selling 837,261 shares during the period. Jump Financial LLC's holdings in Coeur Mining were worth $1,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock worth $1,277,000 after buying an additional 129,574 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Coeur Mining during the 1st quarter valued at about $540,000. Allspring Global Investments Holdings LLC lifted its stake in Coeur Mining by 3,091.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock worth $6,050,000 after purchasing an additional 989,952 shares in the last quarter. Amalgamated Bank lifted its stake in Coeur Mining by 71.0% in the 1st quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock worth $128,000 after purchasing an additional 8,943 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Coeur Mining in the 1st quarter worth approximately $813,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Up 4.9%

Shares of NYSE:CDE traded up $0.61 during mid-day trading on Monday, reaching $13.17. 14,126,381 shares of the company were exchanged, compared to its average volume of 14,006,552. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 35.61 and a beta of 1.19. The firm's 50-day simple moving average is $10.09 and its 200 day simple moving average is $7.86. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $13.18.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company 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 business's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. Equities research analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Pierre Beaudoin sold 48,362 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction of $559,548.34. Following the completion of the sale, the director owned 140,000 shares in the company, valued at approximately $1,619,800. The trade was a 25.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Casey M. Nault sold 102,257 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president directly owned 568,623 shares in the company, valued at approximately $6,823,476. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,619 shares of company stock valued at $2,975,112 in the last three months. Corporate 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.