Coeur Mining, Inc. $CDE Shares Purchased by Sprott Inc.

Key Points

• Sprott Inc. significantly increased its stake in Coeur Mining by 889.3% during the first quarter, acquiring an additional 10,180,102 shares and making Coeur Mining about 3.6% of its investment portfolio.
• Multiple institutional investors, including Cambridge Investment Research Advisors and Allspring Global Investments, also boosted their holdings in Coeur Mining, which now has 63.01% institutional ownership.
• Wall Street analysts have upgraded Coeur Mining, with a consensus rating of "Buy" and a price target of $9.79, following a strong quarterly earnings report that exceeded estimates.

Sprott Inc. grew its holdings in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 889.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,324,856 shares of the basic materials company's stock after purchasing an additional 10,180,102 shares during the period. Coeur Mining accounts for 3.6% of Sprott Inc.'s portfolio, making the stock its 7th biggest position. Sprott Inc. owned approximately 1.77% of Coeur Mining worth $66,963,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDE. Vanguard Group Inc. boosted its position in shares of Coeur Mining by 57.3% during the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock valued at $378,903,000 after purchasing an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Coeur Mining by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock valued at $128,774,000 after acquiring an additional 4,594,097 shares in the last quarter. Tidal Investments LLC raised its position in shares of Coeur Mining by 11.1% in the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company's stock valued at $76,326,000 after purchasing an additional 1,332,684 shares during the period. Jupiter Asset Management Ltd. increased 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 acquiring an additional 3,233,383 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Coeur Mining by 57.8% during the fourth quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company's stock worth $41,245,000 after buying an additional 2,641,310 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

Coeur Mining Stock Up 1.3%

Shares of NYSE CDE traded up $0.16 during midday trading on Wednesday, hitting $12.46. 5,622,443 shares of the stock traded hands, compared to its average volume of 16,356,869. The company has a market cap of $8.01 billion, a PE ratio of 33.64 and a beta of 1.16. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $12.56. The business has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $7.73. 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 issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million for 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 business's revenue for the quarter was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Coeur Mining news, SVP Aoife Mcgrath sold 8,000 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 203,318 shares of the company's stock, valued at approximately $2,376,787.42. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the completion of the transaction, the chief accounting officer owned 143,007 shares in the company, valued at $1,661,741.34. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 266,619 shares of company stock worth $2,975,112 over the last three months. 1.56% of the stock is 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.