Raymond James Financial Inc. Increases Holdings in Coeur Mining, Inc. $CDE

Key Points

• Raymond James Financial Inc. increased its stake in Coeur Mining by 28.6% during the first quarter, acquiring an additional 186,644 shares for a total of 840,095 shares, valued at approximately $4.97 million.
• Coeur Mining reported a 116.5% increase in quarterly revenue year-over-year, totaling $480.65 million, and earnings per share (EPS) of $0.20, beating expectations.
• Institutional investors own 63.01% of Coeur Mining's stock, indicating significant interest from larger financial entities.

Raymond James Financial Inc. boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 28.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 840,095 shares of the basic materials company's stock after buying an additional 186,644 shares during the period. Raymond James Financial Inc. owned 0.13% of Coeur Mining worth $4,973,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. City State Bank grew its stake in shares of Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after acquiring an additional 2,274 shares in the last quarter. Navellier & Associates Inc. increased its stake in shares of Coeur Mining by 8.9% during the first quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company's stock worth $228,000 after acquiring an additional 3,411 shares during the period. Summer Road LLC purchased a new position in Coeur Mining in the first quarter valued at about $28,000. Highland Capital Management LLC grew its position in shares of Coeur Mining by 23.1% in the first quarter. Highland Capital Management LLC now owns 28,645 shares of the basic materials company's stock valued at $170,000 after purchasing an additional 5,378 shares during the last quarter. Finally, Sowell Financial Services LLC raised its stake in Coeur Mining by 11.0% during the first quarter. Sowell Financial Services LLC now owns 55,830 shares of the basic materials company's stock worth $331,000 after purchasing an additional 5,554 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Coeur Mining Trading Up 4.3%

NYSE CDE traded up $0.62 during trading hours on Wednesday, reaching $14.95. The company's stock had a trading volume of 12,802,039 shares, compared to its average volume of 13,549,267. The stock has a market cap of $9.61 billion, a P/E ratio of 40.41 and a beta of 1.19. Coeur Mining, Inc. has a 52 week low of $4.58 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The firm has a fifty day simple moving average of $10.93 and a 200-day simple moving average of $8.27.

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

Insider Transactions at Coeur Mining

In other Coeur Mining news, Director Pierre Beaudoin sold 48,362 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the transaction, the director owned 140,000 shares of the company's stock, valued at approximately $1,619,800. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction dated 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 sale, the senior vice president owned 568,623 shares of the company's stock, valued at $6,823,476. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 516,619 shares of company stock valued at $6,626,362. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.