Pale Fire Capital SE Takes Position in Coeur Mining, Inc. $CDE

Key Points

• Pale Fire Capital SE acquired a stake in Coeur Mining, Inc. valued at approximately $29.14 million, making it the firm's 6th largest position.
• Coeur Mining's stock recently traded at $12.06 and has a market cap of $7.75 billion, with a twelve-month revenue increase of 116.5% year-over-year.
• Analysts have a consensus "Buy" rating for Coeur Mining, with a price target range between $9.79 and $13.00 after recent upgrades from multiple investment firms.

Pale Fire Capital SE bought a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,922,866 shares of the basic materials company's stock, valued at approximately $29,143,000. Coeur Mining comprises 3.5% of Pale Fire Capital SE's investment portfolio, making the stock its 6th largest position. Pale Fire Capital SE owned 0.77% of Coeur Mining at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN increased its position in Coeur Mining by 6.7% during the 4th quarter. Wells Fargo & Company MN now owns 369,517 shares of the basic materials company's stock worth $2,114,000 after purchasing an additional 23,198 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Coeur Mining by 192.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,765 shares of the basic materials company's stock worth $182,000 after acquiring an additional 20,893 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Coeur Mining in the 4th quarter valued at approximately $3,738,000. Barclays PLC lifted its stake in Coeur Mining by 1.4% in the 4th quarter. Barclays PLC now owns 975,765 shares of the basic materials company's stock valued at $5,581,000 after buying an additional 13,113 shares in the last quarter. Finally, Mariner LLC lifted its stake in Coeur Mining by 65.0% in the 4th quarter. Mariner LLC now owns 77,824 shares of the basic materials company's stock valued at $445,000 after buying an additional 30,667 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total value of $1,227,084.00. Following the completion of the sale, the senior vice president directly owned 568,623 shares in the company, valued at approximately $6,823,476. This represents a 15.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 approximately $2,376,787.42. This represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 266,619 shares of company stock valued at $2,975,112 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CDE shares. Zacks Research raised Coeur Mining to a "hold" rating in a research note on Tuesday, August 12th. BMO Capital Markets upped their target price on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares set a $12.00 price target on Coeur Mining in a research note on Friday, June 13th. Roth Capital reissued a "buy" rating and set a $13.00 price target on shares of Coeur Mining in a research note on Thursday, August 7th. Finally, National Bank Financial raised Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. Three 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, the stock presently has an average rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Trading Up 3.4%

Shares of CDE stock traded up $0.43 on Friday, reaching $12.99. 5,621,472 shares of the stock were exchanged, compared to its average volume of 16,289,870. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $12.99. The stock has a market cap of $8.35 billion, a P/E ratio of 34.98 and a beta of 1.16. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $10.01 and a two-hundred day moving average of $7.81.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same period in the prior year, the firm earned ($0.01) EPS. The firm's quarterly revenue was up 116.5% compared to the same quarter last year. On average, 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.