Coeur Mining, Inc. $CDE Stock Bought by Convergence Financial LLC

Convergence Financial LLC increased its position in Coeur Mining, Inc. (NYSE:CDE) by 263.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,130 shares of the basic materials company’s stock after buying an additional 44,320 shares during the period. Convergence Financial LLC’s holdings in Coeur Mining were worth $1,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDE. Ancora Advisors LLC acquired a new position in Coeur Mining during the 2nd quarter worth approximately $26,000. Versant Capital Management Inc boosted its holdings in Coeur Mining by 105.0% in the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 820 shares in the last quarter. Bullseye Investment Management LLC bought a new position in Coeur Mining in the second quarter worth approximately $33,000. Root Financial Partners LLC bought a new position in Coeur Mining in the third quarter worth approximately $45,000. Finally, V Square Quantitative Management LLC acquired a new stake in Coeur Mining in the third quarter valued at approximately $54,000. 63.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CDE shares. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings lowered Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Scotiabank cut their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Roth Capital set a $19.00 target price on Coeur Mining in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and an average price target of $25.50.

Coeur Mining Stock Up 1.4%

Shares of NYSE CDE opened at $14.41 on Thursday. The stock has a market capitalization of $14.81 billion, a P/E ratio of 12.32 and a beta of 1.37. The company has a 50-day moving average price of $18.44 and a 200-day moving average price of $19.02. Coeur Mining, Inc. has a 1 year low of $13.12 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. The company’s revenue was up 125.8% on a year-over-year basis. On average, equities research analysts forecast that Coeur Mining, Inc. will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, Director J. Kenneth Thompson sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total transaction of $519,250.00. Following the completion of the sale, the director directly owned 257,333 shares of the company’s stock, valued at approximately $5,344,806.41. The trade was a 8.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Casey M. Nault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares of the company’s stock, valued at approximately $10,801,720. This trade represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 51,000 shares of company stock worth $1,055,070. Insiders own 0.90% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur’s operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.