Jupiter Asset Management Ltd. Grows Stake in Coeur Mining, Inc. (NYSE:CDE)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Coeur Mining by 60.9% in the first quarter, owning approximately 1.34% of the company, valued at $50.56 million.
• Coeur Mining has received a "strong-buy" rating from National Bank Financial with a target price of $12.00, reflecting positive sentiments among analysts.
• In recent insider activities, Coeur Mining's director Pierre Beaudoin sold 60,551 shares, reducing their ownership stake by 24.33%.

Jupiter Asset Management Ltd. lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 60.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,541,297 shares of the basic materials company's stock after acquiring an additional 3,233,383 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 1.34% of Coeur Mining worth $50,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CDE. City State Bank increased its holdings in Coeur Mining by 56.9% during the first 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 during the period. Quarry LP increased its holdings in Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after buying an additional 5,968 shares during the period. Optiver Holding B.V. boosted its stake in Coeur Mining by 150.5% in the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 4,903 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Coeur Mining in the first quarter valued at approximately $53,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Coeur Mining in the first quarter valued at approximately $60,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CDE shares. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research note on Friday, June 13th. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. Finally, Roth Capital restated a "buy" rating and issued a $12.00 target price (up from $10.00) on shares of Coeur Mining in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coeur Mining presently has an average rating of "Buy" and an average price target of $9.21.

Coeur Mining Stock Performance

NYSE CDE traded down $0.02 on Friday, reaching $8.67. 11,433,726 shares of the company's stock traded hands, compared to its average volume of 9,652,571. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 33.35 and a beta of 1.16. The stock has a 50 day moving average price of $9.01 and a 200-day moving average price of $7.16. Coeur Mining, Inc. has a fifty-two week low of $4.57 and a fifty-two week high of $9.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. The firm's revenue was up 69.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total value of $134,362.80. Following the completion of the transaction, the director owned 101,841 shares of the company's stock, valued at approximately $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the sale, the director directly owned 188,362 shares of the company's stock, valued at $1,375,042.60. This represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,061 shares of company stock valued at $667,775. Corporate insiders own 1.50% of the company's stock.

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.