24,217 Shares in Coeur Mining, Inc. $CDE Acquired by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC has acquired a new position in Coeur Mining, Inc. valued at $143,000, purchasing 24,217 shares during the first quarter.
• Coeur Mining reported a 116.5% increase in quarterly revenue year-over-year and earnings per share (EPS) of $0.20, surpassing estimates.
• Institutional investors hold 63.01% of Coeur Mining's stock, with notable increases in holdings from firms such as Cambridge Investment Research and Allspring Global Investments.

Quantitative Investment Management LLC bought a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 24,217 shares of the basic materials company's stock, valued at approximately $143,000.

Other hedge funds also recently bought and sold shares of the company. Hartree Partners LP acquired a new stake in shares of Coeur Mining during the first quarter worth $577,000. Groupe la Francaise raised its holdings in shares of Coeur Mining by 6.7% during the first quarter. Groupe la Francaise now owns 320,000 shares of the basic materials company's stock worth $2,029,000 after acquiring an additional 20,000 shares during the period. Sprott Inc. raised its holdings in shares of Coeur Mining by 889.3% in the first quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after purchasing an additional 10,180,102 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Coeur Mining by 179.7% in the first quarter. Hsbc Holdings PLC now owns 226,664 shares of the basic materials company's stock valued at $1,354,000 after purchasing an additional 145,619 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Coeur Mining by 5.7% in the first quarter. Wellington Management Group LLP now owns 982,868 shares of the basic materials company's stock valued at $5,819,000 after purchasing an additional 53,119 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Stock Up 4.9%

Shares of NYSE CDE traded up $0.61 during trading hours on Monday, hitting $13.17. The company had a trading volume of 14,126,381 shares, compared to its average volume of 14,006,552. The stock has a market capitalization of $8.47 billion, a P/E ratio of 35.61 and a beta of 1.19. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $13.18. The firm's 50 day moving average is $10.17 and its 200-day moving average is $7.90.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDE has been the topic of a number of recent research reports. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Zacks Research upgraded shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. BMO Capital Markets lifted their price objective 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 price objective on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reiterated a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a report on Thursday, August 7th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $9.79.

Insiders Place Their Bets

In related news, Director Pierre Beaudoin sold 48,362 shares of the business'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 transaction, the director directly owned 140,000 shares of the company's stock, valued at approximately $1,619,800. The trade was a 25.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.62, for a total value of $92,960.00. Following the transaction, the chief accounting officer directly owned 143,007 shares in the company, valued at $1,661,741.34. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,619 shares of company stock valued at $2,975,112 over the last 90 days. 1.56% of the stock is 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.