69,575 Shares in Coeur Mining, Inc. (NYSE:CDE) Acquired by Summit Global Investments

Summit Global Investments purchased a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,575 shares of the basic materials company's stock, valued at approximately $412,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its position in Coeur Mining by 595.5% in the 4th quarter. US Bancorp DE now owns 87,962 shares of the basic materials company's stock valued at $503,000 after buying an additional 75,314 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Coeur Mining by 2,203.1% in the 4th quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company's stock valued at $1,332,000 after purchasing an additional 222,803 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Coeur Mining by 253.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company's stock valued at $8,419,000 after purchasing an additional 1,055,084 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Coeur Mining in the 4th quarter valued at $183,000. Finally, Ameriprise Financial Inc. grew its stake in Coeur Mining by 2,776.5% in the 4th quarter. Ameriprise Financial Inc. now owns 861,797 shares of the basic materials company's stock valued at $4,929,000 after purchasing an additional 831,837 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDE. BMO Capital Markets began coverage on Coeur Mining in a research note on Tuesday, February 18th. They issued an "outperform" rating and a $9.00 price objective for the company. National Bank Financial upgraded Coeur Mining to a "strong-buy" rating in a research note on Friday, March 21st. TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a research note on Tuesday, March 11th. Raymond James reiterated an "outperform" rating and set a $8.50 price target on shares of Coeur Mining in a research note on Wednesday, April 2nd. Finally, TD Securities started coverage on Coeur Mining in a research note on Tuesday, March 11th. They set a "buy" rating and a $7.00 price target for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Coeur Mining presently has a consensus rating of "Buy" and an average price target of $8.10.

Coeur Mining Price Performance

Shares of NYSE:CDE traded up $0.49 on Thursday, hitting $9.45. The company's stock had a trading volume of 25,160,487 shares, compared to its average volume of 12,713,305. The company has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.36. Coeur Mining, Inc. has a 1 year low of $4.57 and a 1 year high of $9.69. The company has a market capitalization of $6.04 billion, a PE ratio of 78.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. During the same period in the previous year, the company posted ($0.05) EPS. The company's revenue was up 69.0% on a year-over-year basis. Sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In related news, Director Pierre Beaudoin sold 60,551 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the transaction, the director now directly owns 188,362 shares of the company's stock, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the transaction, the chief accounting officer now directly owns 122,104 shares in the company, valued at approximately $903,569.60. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,061 shares of company stock valued at $667,775 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

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.