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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Coeur Mining by 150.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock valued at $1,277,000 after purchasing an additional 129,574 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Coeur Mining during the 1st quarter worth approximately $540,000. Allspring Global Investments Holdings LLC increased its holdings in Coeur Mining by 3,091.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock worth $6,050,000 after acquiring an additional 989,952 shares during the period. Amalgamated Bank increased its holdings in Coeur Mining by 71.0% during the 1st quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock worth $128,000 after acquiring an additional 8,943 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in Coeur Mining during the 1st quarter worth approximately $813,000. Institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

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

Coeur Mining Price Performance

CDE stock opened at $15.54 on Friday. 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 52 week low of $4.58 and a 52 week high of $15.75. The firm's fifty day moving average is $11.19 and its 200 day moving average is $8.41. The firm has a market cap of $9.99 billion, a P/E ratio of 42.01 and a beta of 1.19.

Coeur Mining (NYSE:CDE - Get Free Report) last released its 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. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The company had revenue of $480.65 million for the quarter, compared to analyst estimates of $438.40 million. During the same quarter last year, the firm earned ($0.01) EPS. The firm's quarterly revenue was up 116.5% compared to the same quarter last year. Research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at Coeur Mining

In other Coeur Mining news, SVP Aoife Mcgrath sold 8,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the sale, the senior vice president owned 203,318 shares of the company's stock, valued at $2,376,787.42. This represents a 3.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the sale, the senior vice president directly owned 568,623 shares of the company's stock, valued at $6,823,476. The trade was a 15.24% 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 90 days. Corporate insiders own 1.50% of the company's stock.

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.

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