Oppenheimer & Close LLC Purchases New Position in Coeur Mining, Inc. (NYSE:CDE)

Oppenheimer & Close LLC purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) in the first quarter, HoldingsChannel reports. The fund purchased 236,170 shares of the basic materials company’s stock, valued at approximately $1,398,000.

A number of other institutional investors have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in 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 worth $1,277,000 after purchasing an additional 129,574 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Coeur Mining during the first quarter worth approximately $540,000. US Bancorp DE increased its position in shares of Coeur Mining by 595.5% during the fourth quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock worth $503,000 after acquiring an additional 75,314 shares during the period. Russell Investments Group Ltd. increased its position in shares of Coeur Mining by 2,203.1% during the fourth quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company’s stock worth $1,332,000 after acquiring an additional 222,803 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Coeur Mining by 253.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company’s stock worth $8,419,000 after acquiring an additional 1,055,084 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at Coeur Mining

In other news, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction 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 completion of the sale, the director directly owned 101,841 shares in the company, valued at approximately $797,415.03. The trade was a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre Beaudoin sold 60,551 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the transaction, the director owned 188,362 shares of the company’s stock, valued at $1,375,042.60. This represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,061 shares of company stock worth $667,775. Company insiders own 1.50% of the company’s stock.

Coeur Mining Trading Up 1.1%

NYSE:CDE opened at $9.08 on Friday. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $9.69. The firm has a fifty day simple moving average of $8.05 and a 200-day simple moving average of $6.72. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.81 billion, a P/E ratio of 34.91 and a beta of 1.32.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 69.0% on a year-over-year basis. On average, equities research analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CDE shares. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a report on Thursday, June 12th. TD Securities assumed coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective on the stock. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reissued a “buy” rating and set a $12.00 price objective (up from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. One analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Coeur Mining currently has an average rating of “Buy” and an average target price of $9.21.

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.