Quantitative Investment Management LLC Invests $143,000 in Coeur Mining, Inc. $CDE

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 disclosure with the Securities & Exchange Commission. The fund bought 24,217 shares of the basic materials company's stock, valued at approximately $143,000.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings 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 worth $1,277,000 after purchasing an additional 129,574 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Coeur Mining during the first quarter worth approximately $540,000. Allspring Global Investments Holdings LLC increased its stake in Coeur Mining by 3,091.5% during the first 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 last quarter. Amalgamated Bank increased its stake in Coeur Mining by 71.0% during the first 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 last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Coeur Mining during the first quarter worth approximately $813,000. 63.01% of the stock is owned by institutional investors.

Coeur Mining Stock Up 1.4%

Shares of NYSE:CDE opened at $12.31 on Wednesday. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $12.33. The business has a 50 day simple moving average of $9.87 and a two-hundred day simple moving average of $7.73. The firm has a market capitalization of $7.91 billion, a PE ratio of 33.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60.

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 analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.Coeur Mining's quarterly revenue was up 116.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Coeur Mining

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 value of $559,548.34. Following the completion of the sale, the director owned 140,000 shares in the company, valued at approximately $1,619,800. The trade was a 25.68% decrease in their ownership of the stock. 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 business's stock in a transaction that occurred 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 $2,376,787.42. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,619 shares of company stock worth $2,975,112 over the last three months. Company insiders own 1.56% 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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