MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Coeur Mining, Inc. $CDE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Coeur Mining by 72.5% during the first quarter, now holding 18,040,649 shares valued at approximately $106.8 million.
• Coeur Mining recently reported earnings of $0.20 per share, surpassing estimates, with revenue increasing 116.5% year-over-year to $480.65 million.
• Institutional investors currently hold 63.01% of Coeur Mining's stock, with several hedge funds significantly increasing their positions in the first quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 72.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,040,649 shares of the basic materials company's stock after buying an additional 7,579,901 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.82% of Coeur Mining worth $106,801,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CDE. MAI Capital Management purchased a new stake in shares of Coeur Mining during the first quarter valued at $25,000. Summer Road LLC purchased a new position in Coeur Mining in the first quarter worth about $28,000. City State Bank boosted its position in Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after purchasing an additional 2,274 shares during the last quarter. State of Wyoming purchased a new position in Coeur Mining in the first quarter worth about $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in Coeur Mining in the first quarter worth about $53,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Coeur Mining Stock Performance

Shares of NYSE CDE traded up $0.41 during trading on Wednesday, hitting $14.74. The company had a trading volume of 5,276,237 shares, compared to its average volume of 16,323,235. The stock has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $8.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. Coeur Mining, Inc. has a 12 month low of $4.58 and a 12 month high of $14.93. The firm has a market capitalization of $9.47 billion, a P/E ratio of 39.80 and a beta of 1.19.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $480.65 million for the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The business's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. As a group, analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at Coeur Mining

In related news, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total transaction of $93,520.00. Following the sale, the senior vice president owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. This trade represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the sale, the director directly owned 140,000 shares in the company, valued at $1,619,800. This trade represents a 25.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,619 shares of company stock worth $6,626,362 in the last three months. Corporate insiders own 1.56% 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.