Range Financial Group LLC Buys New Shares in Coeur Mining, Inc. $CDE

Key Points

• Range Financial Group LLC acquired a new stake in Coeur Mining, purchasing 125,882 shares valued at approximately $1,115,000 during the second quarter.
• Several major institutional investors, including Vanguard Group Inc. and Sprott Inc., significantly increased their holdings in Coeur Mining, indicating strong interest in the company.
• Coeur Mining reported a net margin of 13.06% for the last quarter, with revenues up 116.5% year-over-year, surpassing analysts' expectations for earnings per share.

Range Financial Group LLC bought a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 125,882 shares of the basic materials company's stock, valued at approximately $1,115,000.

Other hedge funds also recently bought and sold shares of the company. MAI Capital Management purchased a new position in Coeur Mining during the first quarter worth approximately $25,000. Summer Road LLC purchased a new position in Coeur Mining during the first quarter worth approximately $28,000. City State Bank boosted its position in Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after purchasing an additional 2,274 shares in the last quarter. State of Wyoming purchased a new position in Coeur Mining during the first quarter worth approximately $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in Coeur Mining during the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Buying and Selling at Coeur Mining

In other news, SVP Aoife Mcgrath sold 8,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the transaction, the senior vice president directly owned 203,318 shares in the company, valued at $2,376,787.42. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mitchell J. Krebs sold 125,000 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $14.65, for a total value of $1,831,250.00. Following the transaction, the chief executive officer owned 2,197,309 shares of the company's stock, valued at approximately $32,190,576.85. This represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 516,619 shares of company stock valued at $6,626,362. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

CDE has been the topic of a number of recent analyst reports. Roth Capital reiterated a "buy" rating and set a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 7th. Zacks Research upgraded Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. BMO Capital Markets increased their target price on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Trading Up 6.9%

CDE stock traded up $1.12 during midday trading on Friday, hitting $17.40. 47,548,581 shares of the company's stock were exchanged, compared to its average volume of 14,039,413. The business has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $8.81. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $11.18 billion, a PE ratio of 47.03 and a beta of 1.19. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $17.48.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $480.65 million during the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm's quarterly revenue was up 116.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, sell-side analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Coeur Mining 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.