Oppenheimer & Close LLC Invests $1.40 Million in Coeur Mining, Inc. (NYSE:CDE)

Oppenheimer & Close LLC acquired a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 236,170 shares of the basic materials company's stock, valued at approximately $1,398,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chilton Capital Management LLC acquired a new position in shares of Coeur Mining during the first quarter worth about $83,000. Bank of New York Mellon Corp lifted its stake in shares of Coeur Mining by 51.7% during the first quarter. Bank of New York Mellon Corp now owns 1,894,558 shares of the basic materials company's stock worth $11,216,000 after purchasing an additional 645,852 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Coeur Mining during the first quarter worth about $381,000. Principal Financial Group Inc. increased its position in shares of Coeur Mining by 89.7% during the first quarter. Principal Financial Group Inc. now owns 41,435 shares of the basic materials company's stock worth $245,000 after acquiring an additional 19,589 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Coeur Mining during the first quarter worth about $813,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Coeur Mining Stock Down 6.0%

Coeur Mining stock traded down $0.57 during midday trading on Tuesday, hitting $8.92. The stock had a trading volume of 8,210,823 shares, compared to its average volume of 13,203,375. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.71 billion, a P/E ratio of 34.31 and a beta of 1.32. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $9.69. The business has a fifty day moving average price of $8.12 and a 200 day moving average price of $6.75.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. Coeur Mining's quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. Research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CDE shares. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. National Bankshares set a $12.00 target price on Coeur Mining in a research report on Friday, June 13th. TD Cowen raised Coeur Mining to a "strong-buy" rating in a research report on Tuesday, March 11th. TD Securities started coverage on Coeur Mining in a research report on Tuesday, March 11th. They set a "buy" rating and a $7.00 target price on the stock. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Coeur Mining has an average rating of "Buy" and an average target price of $9.21.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 12,350 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.40, for a total transaction of $91,390.00. Following the completion of the transaction, the chief accounting officer directly owned 122,104 shares in the company, valued at approximately $903,569.60. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the transaction, the director owned 188,362 shares of the company's stock, valued at approximately $1,375,042.60. This represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is currently owned by 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.