Ninepoint Partners LP Invests $10.68 Million in Coeur Mining, Inc. $CDE

Ninepoint Partners LP purchased a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 654,243 shares of the basic materials company's stock, valued at approximately $10,677,000. Coeur Mining comprises 0.8% of Ninepoint Partners LP's investment portfolio, making the stock its 20th largest position. Ninepoint Partners LP owned 0.06% of Coeur Mining at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Triumph Capital Management increased 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 worth $29,000 after buying an additional 1,200 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Coeur Mining by 105.0% during the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 820 shares during the period. Kingdom Financial Group LLC. bought a new position in shares of Coeur Mining during the fourth quarter worth about $32,000. JPL Wealth Management LLC bought a new position in shares of Coeur Mining during the third quarter worth about $35,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Coeur Mining in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Activity at Coeur Mining

In other Coeur Mining news, Director J Kenneth Thompson sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the sale, the director directly owned 257,333 shares in the company, valued at $5,344,806.41. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Casey M. Nault sold 10,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the executive vice president directly owned 540,086 shares of the company's stock, valued at approximately $10,801,720. The trade was a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 80,000 shares of company stock valued at $1,569,870. Insiders own 0.90% of the company's stock.

Coeur Mining Stock Performance

CDE stock opened at $21.15 on Friday. The company has a market capitalization of $21.74 billion, a P/E ratio of 18.08 and a beta of 1.32. The company has a 50-day simple moving average of $16.71 and a 200 day simple moving average of $18.81. Coeur Mining, Inc. has a fifty-two week low of $11.41 and a fifty-two week high of $27.77. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company earned $0.20 EPS. The business's quarterly revenue was up 125.8% on a year-over-year basis. Sell-side analysts predict that Coeur Mining, Inc. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDE has been the topic of several recent research reports. Roth Capital set a $19.00 price objective on shares of Coeur Mining in a research report on Friday, August 7th. Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Monday. Scotiabank dropped their price target on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald downgraded Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $25.50.

More Coeur Mining News

Here are the key news stories impacting Coeur Mining this week:

• Positive Sentiment: Coeur Mining shares participated in a sharp precious-metals mining rally after reports that a potential U.S. Treasury buyback plan was boosting demand for gold and silver-related assets. The move reflects favorable macroeconomic sentiment toward precious-metals producers rather than a company-specific operating announcement. Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
• Positive Sentiment: Zacks Research upgraded CDE from “strong sell” to “hold.” Although this is not a bullish rating, the change removes an aggressively negative recommendation and may modestly improve sentiment. Zacks Research
• Neutral Sentiment: A market update highlighted Coeur Mining as being in focus, likely reflecting the company’s exposure to the strengthening gold and silver markets and its recent share-price momentum. Why Is Coeur Mining in Focus Today?
• Negative Sentiment: Three insiders reported selling a combined 41,000 shares on August 19: CFO Thomas S. Whelan sold 6,000 shares, EVP Casey M. Nault sold 10,000, and Director J. Kenneth Thompson sold 25,000. The transactions totaled approximately $844,000 and could weigh on sentiment, though Nault’s sale was made under a pre-arranged Rule 10b5-1 plan and all three executives retained substantial holdings.

Coeur Mining Company 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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