New Mexico Educational Retirement Board Makes New Investment in Coeur Mining, Inc. $CDE

Key Points

• New Mexico Educational Retirement Board acquired 214,800 shares of Coeur Mining in the second quarter, valued at approximately $3.5 million. Institutional investors collectively own 63.01% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $25.50, although Cantor Fitzgerald downgraded the stock to “hold.”
• Coeur Mining’s latest quarter showed strong year-over-year revenue growth of 125.8%, but earnings and revenue fell short of analyst estimates. Meanwhile, insiders sold 80,000 shares worth about $1.57 million over the past three months.

New Mexico Educational Retirement Board acquired a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 214,800 shares of the basic materials company's stock, valued at approximately $3,506,000.

A number of other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc boosted its position in Coeur Mining by 105.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock worth $26,000 after purchasing an additional 820 shares during the period. Ancora Advisors LLC purchased a new position in Coeur Mining in the second quarter valued at about $26,000. Triumph Capital Management raised its position in Coeur Mining by 300.0% in the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 1,200 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock worth $30,000 after purchasing an additional 1,435 shares in the last quarter. Finally, Kingdom Financial Group LLC. acquired a new position in shares of Coeur Mining during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

CDE has been the subject of a number of recent research reports. Cantor Fitzgerald lowered Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 target price for the company. in a research note on Thursday, May 7th. Scotiabank reduced their price target on Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Roth Capital set a $19.00 price target on Coeur Mining in a report on Friday, August 7th. Zacks Research upgraded Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

Coeur Mining Stock Performance

Shares of CDE stock opened at $21.24 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The company's fifty day moving average price is $17.13 and its two-hundred day moving average price is $18.86. The firm has a market capitalization of $21.83 billion, a P/E ratio of 18.15 and a beta of 1.32. Coeur Mining, Inc. has a 12 month low of $12.54 and a 12 month high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. The firm's revenue was up 125.8% on a year-over-year basis. On average, research analysts anticipate that Coeur Mining, Inc. will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas S. Whelan sold 6,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kenneth J. Watkinson sold 39,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the sale, the chief accounting officer owned 77,204 shares of the company's stock, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 80,000 shares of company stock worth $1,569,870. Company insiders own 0.90% of the company's stock.

Coeur Mining Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining's portfolio includes five principal operating mines and several exploration projects across North America and Australia.

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