Coeur Mining, Inc. $CDE Position Decreased by Walleye Capital LLC

Key Points

• Walleye Capital LLC sold 88,628 shares of Coeur Mining, Inc., reducing its holdings by 68.3% to 41,051 shares, valued at approximately $243,000.
• Vanguard Group Inc. significantly increased its stake in Coeur Mining by 57.3%, holding 64 million shares worth nearly $379 million after acquiring over 23 million additional shares.
• Coeur Mining reported earnings of $0.20 per share, exceeding expectations, with a revenue of $480.65 million, representing a 116.5% year-over-year increase.

Walleye Capital LLC trimmed its holdings in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 68.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,051 shares of the basic materials company's stock after selling 88,628 shares during the period. Walleye Capital LLC's holdings in Coeur Mining were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. City State Bank raised 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 worth $37,000 after purchasing an additional 2,274 shares during the period. Navellier & Associates Inc. raised its holdings 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 worth $228,000 after purchasing an additional 3,411 shares during the period. Summer Road LLC acquired a new stake in shares of Coeur Mining during the first quarter worth $28,000. Highland Capital Management LLC raised its holdings 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 worth $170,000 after purchasing an additional 5,378 shares during the period. Finally, Sowell Financial Services LLC raised its holdings in shares of Coeur Mining by 11.0% during the first quarter. Sowell Financial Services LLC now owns 55,830 shares of the basic materials company's stock worth $331,000 after purchasing an additional 5,554 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bankshares set a $12.00 target price on shares of Coeur Mining in a report on Friday, June 13th. National Bank Financial raised shares of Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Zacks Research raised shares of Coeur Mining to a "hold" rating in a report on Tuesday, August 12th. 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, BMO Capital Markets increased their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. 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 company. Based on data from MarketBeat, Coeur Mining presently has an average rating of "Buy" and an average price target of $9.79.

Coeur Mining Stock Performance

Shares of CDE stock traded up $0.62 during trading hours on Wednesday, reaching $14.95. The stock had a trading volume of 12,802,039 shares, compared to its average volume of 13,549,267. 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 twelve month low of $4.58 and a twelve month high of $14.98. The firm has a 50-day simple moving average of $10.93 and a 200-day simple moving average of $8.27. The firm has a market capitalization of $9.61 billion, a PE ratio of 40.41 and a beta of 1.19.

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, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million during the quarter, compared to analyst estimates of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. Coeur Mining's revenue was up 116.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, equities analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at Coeur Mining

In related news, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $12.00, for a total value of $1,227,084.00. Following the completion of the transaction, the senior vice president owned 568,623 shares in the company, valued at $6,823,476. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pierre Beaudoin sold 48,362 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $11.57, for a total transaction of $559,548.34. Following the completion of the transaction, the director owned 140,000 shares of the company's stock, valued at $1,619,800. This represents a 25.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,619 shares of company stock worth $6,626,362 over the last ninety days. Insiders own 1.50% of the company's stock.

Coeur Mining 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.