Vanguard Group Inc. Boosts Holdings in Coeur Mining, Inc. $CDE

Key Points

• Vanguard Group Inc. significantly increased its stake in Coeur Mining, acquiring an additional 23,303,638 shares, resulting in a total holding of approximately 64 million shares, valued at $378.9 million.
• Coeur Mining reported a 116.5% increase in revenue year-over-year, with quarterly earnings of $0.20 per share, surpassing analysts' expectations of $0.18.
• Institutional investors hold 63.01% of Coeur Mining's stock, reflecting strong interest from major financial entities as the stock garnered positive ratings from multiple analysts.

Vanguard Group Inc. grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 57.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,003,856 shares of the basic materials company's stock after acquiring an additional 23,303,638 shares during the quarter. Vanguard Group Inc. owned about 10.02% of Coeur Mining worth $378,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CDE. City State Bank increased its holdings in shares of Coeur Mining by 56.9% during the first quarter. City State Bank now owns 6,274 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 2,274 shares in the last quarter. Quarry LP boosted its position in shares of Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after buying an additional 5,968 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after buying an additional 4,903 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Coeur Mining during the first quarter valued at $53,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Coeur Mining during the first quarter valued at $60,000. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the transaction, the director directly owned 140,000 shares of the company's stock, valued at $1,619,800. The trade was a 25.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Casey M. Nault sold 100,000 shares of Coeur Mining stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $10.02, for a total value of $1,002,000.00. Following the transaction, the senior vice president directly owned 670,880 shares in the company, valued at approximately $6,722,217.60. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,362 shares of company stock valued at $1,748,028 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Coeur Mining Stock Performance

NYSE:CDE traded up $0.2170 on Thursday, hitting $11.6670. The stock had a trading volume of 6,794,009 shares, compared to its average volume of 13,636,282. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 31.53 and a beta of 1.16. 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 business's 50-day simple moving average is $9.69 and its two-hundred day simple moving average is $7.62. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $11.97.

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, topping 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 period last year, the firm posted ($0.01) earnings per share. As a group, research analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.