Mainsail Asset Management LLC Acquires 19,040 Shares of Coeur Mining, Inc. (NYSE:CDE)

Mainsail Asset Management LLC lifted its holdings in Coeur Mining, Inc. (NYSE:CDE) by 34.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,040 shares of the basic materials company’s stock after acquiring an additional 19,040 shares during the period. Mainsail Asset Management LLC’s holdings in Coeur Mining were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CDE. Vanguard Group Inc. lifted its stake in Coeur Mining by 57.3% in the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company’s stock worth $378,903,000 after purchasing an additional 23,303,638 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Coeur Mining by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock worth $98,137,000 after buying an additional 282,885 shares in the last quarter. Tidal Investments LLC boosted its stake in Coeur Mining by 11.1% during the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock valued at $76,326,000 after buying an additional 1,332,684 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Coeur Mining by 60.9% during the first quarter. Jupiter Asset Management Ltd. now owns 8,541,297 shares of the basic materials company’s stock valued at $50,564,000 after buying an additional 3,233,383 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Coeur Mining by 57.8% during the 4th quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock valued at $41,245,000 after buying an additional 2,641,310 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Price Performance

NYSE CDE opened at $11.65 on Monday. The firm’s fifty day simple moving average is $9.24 and its two-hundred day simple moving average is $7.31. The firm has a market capitalization of $7.49 billion, a P/E ratio of 31.49 and a beta of 1.16. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. Coeur Mining, Inc. has a 12-month low of $4.58 and a 12-month high of $11.72.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%. The business had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 116.5% on a year-over-year basis. Analysts forecast that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CDE shares. Roth Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Coeur Mining in a research report on Thursday. National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a report on Thursday, June 12th. Finally, BMO Capital Markets lifted their price objective on shares of Coeur Mining from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $9.79.

Insiders Place Their Bets

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

About Coeur Mining

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.