Merit Financial Group LLC Has $234,000 Holdings in Coeur Mining, Inc. (NYSE:CDE)

Merit Financial Group LLC lifted its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 25.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,509 shares of the basic materials company’s stock after purchasing an additional 7,935 shares during the period. Merit Financial Group LLC’s holdings in Coeur Mining were worth $234,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quarry LP lifted its holdings in shares of Coeur Mining by 853.8% during the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 5,968 shares during the period. Optiver Holding B.V. raised its stake in Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after buying an additional 4,903 shares during the last quarter. DRW Securities LLC bought a new position in Coeur Mining during the fourth quarter worth $60,000. ZEGA Investments LLC bought a new position in Coeur Mining during the fourth quarter worth $64,000. Finally, Freestone Grove Partners LP bought a new position in Coeur Mining during the fourth quarter worth $65,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Trading Up 0.9%

CDE opened at $9.23 on Friday. Coeur Mining, Inc. has a 1-year low of $4.57 and a 1-year high of $9.69. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.90 billion, a P/E ratio of 76.92 and a beta of 1.30. The company has a fifty day moving average price of $7.00 and a two-hundred day moving average price of $6.46.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s revenue was up 69.0% on a year-over-year basis. Analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at Coeur Mining

In related news, Director Eduardo Luna sold 17,160 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total value of $134,362.80. Following the sale, the director now owns 101,841 shares in the company, valued at $797,415.03. This represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pierre Beaudoin sold 60,551 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the sale, the director now owns 188,362 shares in the company, valued at $1,375,042.60. This represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,061 shares of company stock valued at $667,775 over the last three months. Corporate insiders own 1.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDE. Roth Mkm lowered their target price on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research note on Friday, February 21st. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research note on Tuesday, March 11th. TD Securities began coverage on shares of Coeur Mining in a research note on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price for the company. BMO Capital Markets began coverage on shares of Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 target price for the company. Finally, Raymond James reissued an “outperform” rating and set a $8.50 target price on shares of Coeur Mining in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and an average price target of $8.10.

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.