Swiss National Bank Raises Holdings in Coeur Mining, Inc. $CDE

Key Points

• The Swiss National Bank increased its holdings in Coeur Mining, Inc. by 57.5% in the first quarter, acquiring an additional 451,405 shares, bringing its total ownership to about 1.24 million shares.
• Coeur Mining's quarterly earnings surpassed estimates with a reported $0.20 earnings per share, exceeding the consensus estimate of $0.18, and revenue increased by 116.5% year-over-year.
• Analysts maintain a consensus rating of "Buy" for Coeur Mining, with target prices ranging between $9.79 to $13.00.

Swiss National Bank increased its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,236,705 shares of the basic materials company's stock after acquiring an additional 451,405 shares during the period. Swiss National Bank owned approximately 0.19% of Coeur Mining worth $7,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in 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 acquiring an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Coeur Mining by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company's stock worth $98,137,000 after acquiring an additional 282,885 shares in the last quarter. Tidal Investments LLC grew its position in 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 worth $76,326,000 after acquiring an additional 1,332,684 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in Coeur Mining by 60.9% in 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 in the last quarter. Finally, Two Sigma Investments LP grew its position in Coeur Mining by 57.8% in 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 acquiring an additional 2,641,310 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on CDE shares. National Bankshares set a $12.00 price target on Coeur Mining in a research report on Friday, June 13th. Zacks Research upgraded Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets increased their price objective 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. Roth Capital reissued a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a research report on Thursday, August 7th. Finally, National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Trading Up 1.9%

Shares of NYSE:CDE traded up $0.2170 during trading on Thursday, reaching $11.6670. 6,794,009 shares of the company were exchanged, compared to its average volume of 13,636,282. The firm has a market capitalization of $7.50 billion, a PE ratio of 31.53 and a beta of 1.16. The business's fifty day simple moving average is $9.69 and its 200-day simple moving average is $7.62. Coeur Mining, Inc. has a 12-month low of $4.58 and a 12-month high of $11.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $480.65 million for 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% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. On average, research analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total transaction of $92,960.00. Following the transaction, the chief accounting officer directly owned 143,007 shares of the company's stock, valued at $1,661,741.34. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Aoife Mcgrath sold 8,000 shares of Coeur Mining stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the transaction, the senior vice president directly owned 203,318 shares in the company, valued at approximately $2,376,787.42. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 164,362 shares of company stock valued at $1,748,028. 1.50% 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.