Ruffer LLP Purchases 659,047 Shares of Coeur Mining, Inc. $CDE

Key Points

• Ruffer LLP increased its stake in Coeur Mining by 22.1%, acquiring an additional 659,047 shares, bringing its total ownership to 3,644,401 shares, valued at approximately $32.3 million.
• Multiple hedge funds are actively investing in Coeur Mining, with notable increases in holdings from Vanguard Group Inc. (57.3%) and Sprott Inc. (889.3%), demonstrating growing institutional interest in the company.
• Analysts have generally positive views on Coeur Mining, with a consensus rating of "Buy" and a price target range between $9.79 and $13.00, following the company's recent earnings that beat estimates with significant revenue growth.

Ruffer LLP raised its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,644,401 shares of the basic materials company's stock after acquiring an additional 659,047 shares during the period. Coeur Mining makes up about 1.4% of Ruffer LLP's investment portfolio, making the stock its 18th largest position. Ruffer LLP owned 0.57% of Coeur Mining worth $32,289,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Coeur Mining by 57.3% in the first quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after purchasing an additional 23,303,638 shares during the last quarter. Sprott Inc. grew 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 worth $66,963,000 after purchasing an additional 10,180,102 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Coeur Mining by 72.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock worth $106,801,000 after purchasing an additional 7,579,901 shares during the last quarter. Pale Fire Capital SE bought a new position in shares of Coeur Mining in the first quarter worth about $29,143,000. Finally, Nuveen LLC bought a new position in shares of Coeur Mining in the first quarter worth about $27,519,000. Institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CDE shares. BMO Capital Markets upped their price target 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 Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a research note 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 price objective on shares of Coeur Mining in a research note on Thursday, August 7th. Finally, Zacks Research raised shares of Coeur Mining to a "hold" rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $9.79.

Coeur Mining Stock Performance

CDE stock opened at $17.46 on Thursday. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 47.19 and a beta of 1.19. The firm has a 50-day simple moving average of $12.44 and a two-hundred day simple moving average of $9.06. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $18.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61.

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

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, SVP Aoife Mcgrath sold 8,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the sale, the senior vice president directly owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pierre Beaudoin sold 48,362 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 516,619 shares of company stock valued at $6,626,362. 1.50% of the stock is currently owned by corporate 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.

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