Insider Selling: Coeur Mining, Inc. (NYSE:CDE) Director Sells 48,362 Shares of Stock

Key Points

• Pierre Beaudoin, a director of Coeur Mining, sold 48,362 shares at an average price of $11.57, resulting in a significant 25.68% decrease in his ownership.
• Coeur Mining's recent earnings report showed a 116.5% increase in revenue, reaching $480.65 million, with a quarterly EPS of $0.20, which exceeded analysts' estimates.
• Institutional investors have significantly increased their holdings in Coeur Mining, with 63.01% of the stock now owned by hedge funds and other institutions.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) Director Pierre Beaudoin sold 48,362 shares of the business'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 completion of the sale, the director owned 140,000 shares of the company's stock, valued at $1,619,800. This trade represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Coeur Mining Stock Down 0.4%

Shares of NYSE CDE traded down $0.05 during mid-day trading on Monday, hitting $11.61. 15,472,842 shares of the stock traded hands, compared to its average volume of 16,683,965. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.61. The stock has a fifty day moving average price of $9.30 and a 200-day moving average price of $7.35. Coeur Mining, Inc. has a 52 week low of $4.58 and a 52 week high of $11.76. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 31.36 and a beta of 1.16.

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

Hedge Funds Weigh In On Coeur Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Coeur Mining by 150.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company's stock valued at $1,277,000 after purchasing an additional 129,574 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Coeur Mining in the first quarter valued at $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 purchasing 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. boosted its stake in shares of Coeur Mining by 2,203.1% in the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company's stock valued at $1,332,000 after buying an additional 222,803 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of research reports. Roth Capital reiterated a "buy" rating and issued a $13.00 target price on shares of Coeur Mining in a report on Thursday. National Bankshares set a $12.00 price objective on Coeur Mining in a research note on Friday, June 13th. BMO Capital Markets increased their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coeur Mining presently 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.

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