Torno Capital LLC Takes $721,000 Position in Coeur Mining, Inc. (NYSE:CDE)

Torno Capital LLC bought a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 126,000 shares of the basic materials company's stock, valued at approximately $721,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDE. Merit Financial Group LLC boosted its stake in Coeur Mining by 5.4% in the 4th quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company's stock worth $181,000 after purchasing an additional 1,607 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Coeur Mining by 0.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 315,190 shares of the basic materials company's stock valued at $1,803,000 after purchasing an additional 2,323 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Coeur Mining by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company's stock valued at $236,000 after purchasing an additional 2,624 shares during the last quarter. Xponance Inc. grew its stake in Coeur Mining by 10.9% during the 4th quarter. Xponance Inc. now owns 28,712 shares of the basic materials company's stock valued at $164,000 after purchasing an additional 2,811 shares during the last quarter. Finally, Optiver Holding B.V. grew its stake in Coeur Mining by 150.5% during the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 4,903 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets assumed coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an "outperform" rating and a $9.00 price target on the stock. 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. Cormark upgraded Coeur Mining to a "moderate buy" rating in a research note on Thursday, February 20th. Finally, National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $8.10.

Insider Buying and Selling

In related news, Director Pierre Beaudoin sold 60,551 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the transaction, the director now owns 188,362 shares of the company's stock, valued at approximately $1,375,042.60. This represents a 24.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas S. Whelan purchased 10,000 shares of Coeur Mining stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $5.25 per share, with a total value of $52,500.00. Following the acquisition, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

Coeur Mining Stock Performance

Shares of NYSE:CDE traded up $0.38 during trading on Tuesday, hitting $7.83. 11,857,729 shares of the stock traded hands, compared to its average volume of 12,278,988. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 65.26 and a beta of 1.24. The company has a fifty day moving average price of $6.11 and a two-hundred day moving average price of $6.19. Coeur Mining, Inc. has a 52-week low of $4.57 and a 52-week high of $7.86.

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, topping analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The firm's revenue was up 69.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

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.