Tocqueville Asset Management L.P. Invests $4.20 Million in Coeur Mining, Inc. $CDE

Key Points

• Tocqueville Asset Management L.P. has acquired 709,884 shares of Coeur Mining, valued at approximately $4.2 million, marking a new investment in the company during the first quarter.
• Institutional investors, like Vanguard Group Inc. and Dimensional Fund Advisors LP, have significantly increased their stakes in Coeur Mining, demonstrating growing interest in the stock.
• Coeur Mining reported earnings of $0.20 per share for the last quarter, exceeding analyst expectations, with a revenue increase of 116.5% year-over-year, highlighting strong financial performance.

Tocqueville Asset Management L.P. purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 709,884 shares of the basic materials company's stock, valued at approximately $4,203,000. Tocqueville Asset Management L.P. owned about 0.11% of Coeur Mining as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock worth $1,277,000 after buying an additional 129,574 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Coeur Mining during the first quarter worth about $540,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Coeur Mining by 3,091.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,021,974 shares of the basic materials company's stock worth $6,050,000 after buying an additional 989,952 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Coeur Mining by 71.0% during the first quarter. Amalgamated Bank now owns 21,544 shares of the basic materials company's stock worth $128,000 after buying an additional 8,943 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Coeur Mining by 2,203.1% during the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company's stock worth $1,332,000 after buying an additional 222,803 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CDE shares. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bankshares set a $12.00 price objective on Coeur Mining in a report on Friday, June 13th. Roth Capital reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Coeur Mining in a report on Thursday, August 7th. Finally, Zacks Research raised Coeur Mining to a "hold" rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Coeur Mining currently has a consensus rating of "Buy" and an average target price of $9.79.

Coeur Mining Price Performance

Shares of Coeur Mining stock traded up $0.2170 during trading on Thursday, hitting $11.6670. 6,790,672 shares of the company were exchanged, compared to its average volume of 16,544,799. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $11.97. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 31.53 and a beta of 1.16. The firm has a 50 day moving average price of $9.64 and a 200 day moving average price of $7.59.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The company's quarterly revenue was up 116.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. On average, equities analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Pierre Beaudoin sold 48,362 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.57, for a total value of $559,548.34. Following the sale, the director directly owned 140,000 shares of the company's stock, valued at approximately $1,619,800. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Aoife Mcgrath sold 8,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $11.69, for a total value of $93,520.00. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,362 shares of company stock valued at $1,748,028. Insiders own 1.50% of the company's stock.

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.