National Bank of Canada FI Purchases 591,969 Shares of Coeur Mining, Inc. (NYSE:CDE)

Key Points

• National Bank of Canada FI significantly increased its holdings in Coeur Mining, acquiring an additional 591,969 shares, bringing its total ownership to approximately 1.29 million shares valued at $7.62 million.
• Coeur Mining reported earnings of $0.20 per share for the last quarter, surpassing analysts' expectations and showing a revenue increase of 116.5% compared to the same quarter last year.
• Multiple analysts have upgraded Coeur Mining's stock ratings, with price targets ranging from $12.00 to $13.00, reflecting positive outlooks for the company's future performance.

National Bank of Canada FI grew its holdings in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 85.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,288,001 shares of the basic materials company's stock after buying an additional 591,969 shares during the quarter. National Bank of Canada FI owned approximately 0.20% of Coeur Mining worth $7,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City State Bank increased its stake in shares of Coeur Mining by 56.9% in 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 in the last quarter. Quarry LP increased its position in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after purchasing an additional 5,968 shares during the period. Optiver Holding B.V. increased its position 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 worth $47,000 after purchasing an additional 4,903 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Coeur Mining in the first quarter worth about $53,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Coeur Mining in the first quarter worth about $60,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CDE shares. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Roth Capital reiterated a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a research report on Thursday, August 7th. National Bankshares set a $12.00 target price on Coeur Mining in a research report on Friday, June 13th. Finally, Zacks Research upgraded Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $9.79.

Coeur Mining Trading Up 0.7%

Shares of Coeur Mining stock traded up $0.08 during trading on Friday, hitting $11.67. 35,659,003 shares of the company were exchanged, compared to its average volume of 12,572,677. The firm has a market capitalization of $7.50 billion, a P/E ratio of 31.54 and a beta of 1.16. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $11.97. The firm's fifty day moving average price is $9.50 and its 200 day moving average price is $7.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60.

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

Insiders Place Their Bets

In related news, Director Pierre Beaudoin sold 48,362 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the completion of the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the transaction, the chief accounting officer owned 143,007 shares of the company's stock, valued at $1,661,741.34. This represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,522 shares of company stock worth $1,882,391 in the last three months. 1.50% of the stock is owned by corporate insiders.

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.