Arizona State Retirement System Buys 120,212 Shares of Coeur Mining, Inc. $CDE

Arizona State Retirement System boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 68.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 296,611 shares of the basic materials company’s stock after buying an additional 120,212 shares during the quarter. Arizona State Retirement System’s holdings in Coeur Mining were worth $4,841,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Coeur Mining by 92.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock worth $524,669,000 after purchasing an additional 13,418,041 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Coeur Mining by 2,107.0% in the second quarter. California State Teachers Retirement System now owns 26,468,951 shares of the basic materials company’s stock valued at $431,973,000 after buying an additional 25,269,622 shares in the last quarter. State Street Corp grew its stake in shares of Coeur Mining by 6.7% in the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock valued at $432,390,000 after buying an additional 1,529,394 shares in the last quarter. Tidal Investments LLC increased its holdings in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after buying an additional 7,382,955 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after buying an additional 524,646 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coeur Mining

In other news, Director J. Kenneth Thompson sold 25,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the transaction, the director directly owned 257,333 shares of the company’s stock, valued at $5,344,806.41. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Whelan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,000 shares of company stock worth $1,055,070 over the last ninety days. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDE. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research note on Friday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Zacks Research raised shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, Scotiabank dropped their target price on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Coeur Mining Stock Up 1.2%

CDE stock opened at $20.59 on Friday. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.16 billion, a PE ratio of 17.60 and a beta of 1.39. Coeur Mining, Inc. has a 1-year low of $13.55 and a 1-year high of $27.77. The business’s 50 day simple moving average is $18.02 and its 200 day simple moving average is $18.73.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 125.8% compared to the same quarter last year. As a group, research analysts anticipate that Coeur Mining, Inc. will post 0.86 EPS for the current year.

About Coeur Mining

Coeur Mining, Inc (NYSE: CDE) is a precious metals mining company that explores for, develops, and produces gold and silver. The company’s activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur’s operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.