KLP Kapitalforvaltning AS Grows Stake in Coeur Mining, Inc. (NYSE:CDE)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Coeur Mining by 55.1%, acquiring an additional 44,380 shares, bringing its total holdings to 124,980 shares valued at approximately $740,000.
• Several analysts have shown a favorable outlook on Coeur Mining, with National Bank Financial upgrading the stock to a "strong-buy" rating and a consensus price target of $9.21.
• Director Eduardo Luna recently sold 17,160 shares at an average price of $7.83, indicating a decrease in insider ownership, which now stands at 1.56%.

KLP Kapitalforvaltning AS grew its holdings in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 55.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,980 shares of the basic materials company's stock after acquiring an additional 44,380 shares during the period. KLP Kapitalforvaltning AS's holdings in Coeur Mining were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. City State Bank boosted its holdings in Coeur Mining by 56.9% in the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after buying an additional 2,274 shares during the period. Quarry LP boosted its holdings in shares of Coeur Mining by 853.8% during 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 during the last quarter. Optiver Holding B.V. boosted its holdings in shares of Coeur Mining by 150.5% during 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 during the last quarter. DRW Securities LLC bought a new position in shares of Coeur Mining during the 4th quarter valued at about $60,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Coeur Mining during the 1st quarter valued at about $61,000. Institutional investors own 63.01% of the company's stock.

Coeur Mining Trading Down 5.1%

CDE stock traded down $0.47 during mid-day trading on Wednesday, reaching $8.73. The company had a trading volume of 11,953,498 shares, compared to its average volume of 9,406,492. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.93 and a quick ratio of 0.62. The company has a market capitalization of $5.58 billion, a PE ratio of 33.58 and a beta of 1.32. The firm has a 50 day moving average of $8.96 and a 200 day moving average of $7.11. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $9.97.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping 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%. Coeur Mining's revenue was up 69.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 12,350 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $7.40, for a total transaction of $91,390.00. Following the transaction, the chief accounting officer directly owned 122,104 shares in the company, valued at approximately $903,569.60. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Luna sold 17,160 shares of the stock in a transaction that occurred 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 transaction, the director owned 101,841 shares in the company, valued at approximately $797,415.03. This represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,061 shares of company stock worth $667,775 in the last three months. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

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

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.