Rhumbline Advisers Has $5.36 Million Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Rhumbline Advisers increased its stake in Coeur Mining by 44.7%, owning 904,652 shares valued at approximately $5.36 million.
• Other institutional investors also raised their stakes significantly, with Vanguard Group increasing its holdings by 57.3% and Sprott Inc. boosting theirs by an astounding 889.3%.
• The latest earnings report showed Coeur Mining outperforming expectations with $0.20 EPS on revenue of $480.65 million, a substantial increase of 116.5% year-over-year.

Rhumbline Advisers lifted its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 44.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 904,652 shares of the basic materials company's stock after purchasing an additional 279,626 shares during the period. Rhumbline Advisers owned 0.14% of Coeur Mining worth $5,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MAI Capital Management acquired a new stake in shares of Coeur Mining in the first quarter valued at approximately $25,000. Summer Road LLC acquired a new stake in shares of Coeur Mining in the first quarter valued at approximately $28,000. City State Bank increased its holdings 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 valued at $37,000 after purchasing an additional 2,274 shares in the last quarter. State of Wyoming acquired a new stake in Coeur Mining during the 1st quarter worth $52,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Coeur Mining during the 1st quarter worth $53,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BMO Capital Markets lifted their target price 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. National Bankshares set a $12.00 target price on shares of Coeur Mining in a report on Friday, June 13th. Zacks Research raised shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. Roth Capital reaffirmed a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a report on Thursday, August 7th. Finally, National Bank Financial raised shares of 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 issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Coeur Mining has an average 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 on Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the sale, 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 SEC, which can be accessed through this hyperlink. Also, CEO Mitchell J. Krebs sold 125,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the completion of the sale, the chief executive officer directly owned 2,197,309 shares in the company, valued at $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. Insiders sold a total of 516,619 shares of company stock worth $6,626,362 in the last ninety days. 1.50% of the stock is owned by insiders.

Coeur Mining Stock Up 1.7%

CDE traded up $0.27 during trading on Thursday, hitting $16.27. The company had a trading volume of 12,187,203 shares, compared to its average volume of 13,769,485. The company has a market capitalization of $10.46 billion, a PE ratio of 43.97 and a beta of 1.19. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $17.15. The firm's 50-day moving average price is $11.77 and its 200 day moving average price is $8.72. 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 (NYSE:CDE - Get Free Report) last posted 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 business had revenue of $480.65 million for the quarter, compared to analysts' expectations of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The firm's revenue was up 116.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, equities analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current 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.