Ruffer LLP Takes Position in Coeur Mining, Inc. (NYSE:CDE)

Key Points

• Ruffer LLP acquired 2,985,354 shares of Coeur Mining, valued at approximately $17.7 million, making it the 29th largest position in their portfolio.
• Coeur Mining's earnings report indicated a 69% increase in quarterly revenue compared to the previous year, with an EPS of $0.11 that beat analysts' expectations.
• Several analysts have recently upgraded Coeur Mining's stock rating, with Roth Capital setting a target price of $12.00, indicating confidence in the company's potential growth.

Ruffer LLP acquired a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,985,354 shares of the basic materials company's stock, valued at approximately $17,673,000. Coeur Mining accounts for approximately 0.7% of Ruffer LLP's portfolio, making the stock its 29th biggest position. Ruffer LLP owned 0.47% of Coeur Mining as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Empire Life Investments Inc. acquired a new stake in shares of Coeur Mining during the first quarter worth about $2,270,000. SCP Investment LP acquired a new position in shares of Coeur Mining during the 1st quarter worth $123,000. Jupiter Asset Management Ltd. grew its position in Coeur Mining by 60.9% during the first quarter. Jupiter Asset Management Ltd. now owns 8,541,297 shares of the basic materials company's stock worth $50,564,000 after buying an additional 3,233,383 shares during the period. Alberta Investment Management Corp acquired a new position in Coeur Mining during the first quarter worth $221,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Coeur Mining during the 1st quarter worth $99,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Activity

In other news, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total value of $134,362.80. Following the transaction, the director directly owned 101,841 shares in the company, valued at approximately $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.40, for a total transaction of $91,390.00. Following the transaction, the chief accounting officer directly owned 122,104 shares of the company's stock, valued at $903,569.60. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,061 shares of company stock worth $667,775 in the last three months. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on CDE. National Bankshares set a $12.00 price target on Coeur Mining in a research report on Friday, June 13th. 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 research report on Thursday. Roth Capital reiterated a "buy" rating on shares of Coeur Mining in a research note on Thursday. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Coeur Mining has an average rating of "Buy" and an average price target of $9.64.

Coeur Mining Trading Up 12.4%

CDE stock traded up $1.23 during mid-day trading on Thursday, reaching $11.12. 21,596,548 shares of the stock traded hands, compared to its average volume of 16,619,168. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $11.30. The stock's fifty day moving average is $9.08 and its 200-day moving average is $7.21. The company has a market cap of $7.11 billion, a P/E ratio of 42.94 and a beta of 1.16. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17.

Coeur Mining (NYSE:CDE - Get Free Report) last released its 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 company 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 9.96% and a net margin of 10.11%. The company's revenue for the quarter was up 116.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, sell-side 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.