Synovus Financial Corp Acquires Shares of 23,942 Coeur Mining, Inc. $CDE

Key Points

• Synovus Financial Corp recently acquired 23,942 shares of Coeur Mining, Inc. (NYSE:CDE), valued at approximately $142,000.
• Coeur Mining reported earnings of $0.20 EPS for the last quarter, surpassing analysts' expectations of $0.18, with a significant revenue increase of 116.5% year-over-year.
• Institutional investors hold 63.01% of Coeur Mining's stock, highlighting strong confidence in the company's future.

Synovus Financial Corp purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,942 shares of the basic materials company's stock, valued at approximately $142,000.

Other hedge funds also recently made changes to their positions in the company. Summer Road LLC bought a new stake in shares of Coeur Mining during the first quarter valued at approximately $28,000. City State Bank raised its stake in shares of Coeur Mining by 56.9% in the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after purchasing an additional 2,274 shares during the last quarter. Quarry LP raised its stake in shares of Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock worth $38,000 after purchasing an additional 5,968 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Coeur Mining in the first quarter worth $53,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Coeur Mining in the first quarter worth $60,000. 63.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDE. Zacks Research upgraded Coeur Mining to a "hold" rating in a research note on Tuesday, August 12th. BMO Capital Markets boosted their price target on Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Roth Capital reiterated a "buy" rating and set a $13.00 price objective on shares of Coeur Mining in a research report on Thursday, August 7th. National Bankshares set a $12.00 price objective on Coeur Mining in a research report on Friday, June 13th. Finally, National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Coeur Mining presently has an average rating of "Buy" and an average target price of $9.79.

Insiders Place Their Bets

In other news, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the completion of the sale, the senior vice president owned 568,623 shares in the company, valued at approximately $6,823,476. This represents a 15.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kenneth J. Watkinson sold 8,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the sale, the chief accounting officer owned 143,007 shares of the company's stock, valued at approximately $1,661,741.34. This represents a 5.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,619 shares of company stock worth $2,975,112. 1.56% of the stock is currently owned by company insiders.

Coeur Mining Trading Up 0.9%

NYSE:CDE traded up $0.13 during midday trading on Wednesday, hitting $13.79. The stock had a trading volume of 13,097,708 shares, compared to its average volume of 16,351,605. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 37.31 and a beta of 1.19. The stock has a 50-day moving average of $10.27 and a 200 day moving average of $7.94. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $14.13.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business 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% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 EPS 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.