NewEdge Advisors LLC Boosts Stock Holdings in Coeur Mining, Inc. $CDE

Key Points

• NewEdge Advisors LLC significantly increased its stake in Coeur Mining, acquiring 236,343 shares and bringing its total holdings to 236,348 shares, valued at approximately $1.4 million.
• Coeur Mining has received multiple analyst upgrades, with a consensus rating of "Buy" and target prices ranging from $9.79 to $13.00.
• The company's latest earnings report showed a net margin of 13.06% and quarterly revenue of $480.65 million, significantly up from the previous year.

NewEdge Advisors LLC lifted its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 4,726,860.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,348 shares of the basic materials company's stock after acquiring an additional 236,343 shares during the quarter. NewEdge Advisors LLC's holdings in Coeur Mining were worth $1,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MAI Capital Management acquired a new position in shares of Coeur Mining during the first quarter worth about $25,000. Summer Road LLC purchased a new position in Coeur Mining in the first quarter valued at about $28,000. City State Bank increased its holdings 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 valued at $37,000 after buying an additional 2,274 shares in the last quarter. State of Wyoming purchased a new position in Coeur Mining in the first quarter valued at about $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in Coeur Mining in the first quarter valued at about $53,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Mitchell J. Krebs sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the sale, the chief executive officer owned 2,197,309 shares in the company, valued at approximately $32,190,576.85. This trade represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pierre Beaudoin sold 48,362 shares of the firm'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 transaction of $559,548.34. Following the sale, the director owned 140,000 shares in the company, valued at approximately $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 valued at $6,626,362 in the last 90 days. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

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

Coeur Mining Price Performance

Shares of CDE stock traded up $0.27 during trading hours on Thursday, hitting $16.27. The company's stock had a trading volume of 12,187,203 shares, compared to its average volume of 13,769,485. The business has a fifty day moving average of $11.77 and a 200-day moving average of $8.72. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 43.97 and a beta of 1.19. Coeur Mining, Inc. has a twelve month low of $4.58 and a twelve month high of $17.15. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12.

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

About Coeur Mining

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.