Virtu Financial LLC Takes $1.44 Million Position in Coeur Mining, Inc. (NYSE:CDE)

Key Points

• Virtu Financial LLC has acquired a new stake in Coeur Mining, Inc., purchasing 242,746 shares for approximately $1.44 million in the first quarter of 2023.
• Several institutional investors have increased their holdings in Coeur Mining, with 63.01% of the stock now owned by institutional parties.
• An insider sold 100,000 shares of Coeur Mining on August 7th, representing a decrease of 12.97% in ownership for the senior vice president involved.

Virtu Financial LLC acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 242,746 shares of the basic materials company's stock, valued at approximately $1,437,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. City State Bank grew its stake 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 buying an additional 2,274 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Coeur Mining by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company's stock valued at $236,000 after buying an additional 2,624 shares during the last quarter. Navellier & Associates Inc. grew its stake in shares of Coeur Mining by 8.9% during the first quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company's stock valued at $228,000 after buying an additional 3,411 shares during the last quarter. Optiver Holding B.V. grew its stake 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. Finally, Highland Capital Management LLC grew its stake in shares of Coeur Mining by 23.1% during the first quarter. Highland Capital Management LLC now owns 28,645 shares of the basic materials company's stock valued at $170,000 after buying an additional 5,378 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Casey M. Nault sold 100,000 shares of Coeur Mining stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $10.02, for a total transaction of $1,002,000.00. Following the completion of the transaction, the senior vice president directly owned 670,880 shares in the company, valued at approximately $6,722,217.60. This trade represents a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the transaction, the director owned 101,841 shares of the company's stock, valued at $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.56% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. BMO Capital Markets increased their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday. National Bankshares set a $12.00 target price on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reiterated a "buy" rating and set a $13.00 target price on shares of Coeur Mining in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $9.79.

Coeur Mining Stock Performance

Shares of CDE opened at $11.65 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. Coeur Mining, Inc. has a one year low of $4.58 and a one year high of $11.72. The company has a 50-day simple moving average of $9.24 and a two-hundred day simple moving average of $7.31. The firm has a market capitalization of $7.49 billion, a PE ratio of 31.49 and a beta of 1.16.

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

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