Tidal Investments LLC Acquires 1,332,684 Shares of Coeur Mining, Inc. (NYSE:CDE)

Tidal Investments LLC raised its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,343,775 shares of the basic materials company's stock after buying an additional 1,332,684 shares during the period. Coeur Mining comprises approximately 0.6% of Tidal Investments LLC's holdings, making the stock its 16th largest position. Tidal Investments LLC owned approximately 3.34% of Coeur Mining worth $76,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Torno Capital LLC bought a new position in shares of Coeur Mining in the 4th quarter worth approximately $721,000. Sherbrooke Park Advisers LLC increased its holdings in Coeur Mining by 110.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 83,408 shares of the basic materials company's stock valued at $477,000 after buying an additional 43,707 shares during the last quarter. ProShare Advisors LLC increased its holdings in Coeur Mining by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 111,272 shares of the basic materials company's stock valued at $636,000 after buying an additional 36,611 shares during the last quarter. Quantinno Capital Management LP bought a new position in Coeur Mining in the fourth quarter worth approximately $78,000. Finally, Man Group plc boosted its stake in shares of Coeur Mining by 492.9% during the 4th quarter. Man Group plc now owns 1,139,842 shares of the basic materials company's stock worth $6,520,000 after acquiring an additional 947,602 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 668,450 shares of the company's stock, valued at approximately $3,509,362.50. This represents a 1.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $7.30, for a total value of $442,022.30. Following the transaction, the director now owns 188,362 shares of the company's stock, valued at $1,375,042.60. This represents a 24.33% decrease in their position. The disclosure for this sale can be found here. 1.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CDE. Cormark raised Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. TD Securities started coverage on Coeur Mining in a research report on Tuesday, March 11th. They issued a "buy" rating and a $7.00 price target for the company. Raymond James reaffirmed an "outperform" rating and set a $8.50 price objective on shares of Coeur Mining in a research report on Wednesday, April 2nd. TD Cowen upgraded Coeur Mining to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a report on Friday, March 21st. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $8.10.

Coeur Mining Price Performance

Shares of NYSE CDE traded up $0.14 during mid-day trading on Friday, reaching $7.86. The company's stock had a trading volume of 8,672,818 shares, compared to its average volume of 12,312,362. 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, Inc. has a 52 week low of $4.57 and a 52 week high of $7.98. The stock has a fifty day moving average of $6.17 and a two-hundred day moving average of $6.21. The firm has a market capitalization of $5.02 billion, a PE ratio of 65.38 and a beta of 1.24.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, topping 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 prior year, the business posted ($0.05) earnings per share. The firm's quarterly revenue was up 69.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

About Coeur Mining

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.