Rhumbline Advisers Purchases 279,626 Shares of Coeur Mining, Inc. (NYSE:CDE)

Rhumbline Advisers raised its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 904,652 shares of the basic materials company’s stock after purchasing an additional 279,626 shares during the quarter. Rhumbline Advisers owned 0.14% of Coeur Mining worth $5,356,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CDE. Two Sigma Advisers LP grew its stake in shares of Coeur Mining by 404.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after purchasing an additional 4,080,600 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Coeur Mining during the 4th quarter valued at about $21,224,000. Vanguard Group Inc. grew its stake in shares of Coeur Mining by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock valued at $232,805,000 after purchasing an additional 3,178,785 shares during the period. Marshall Wace LLP grew its stake in shares of Coeur Mining by 12,934.3% during the 4th quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock valued at $16,998,000 after purchasing an additional 2,948,880 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of 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 purchasing an additional 2,641,310 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDE has been the subject of a number of recent research reports. Roth Mkm cut their price target on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research note on Friday, February 21st. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. TD Securities started coverage on Coeur Mining in a research note on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective for the company. BMO Capital Markets started coverage on Coeur Mining in a research note on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price objective for the company. Finally, Raymond James reiterated an “outperform” rating and set a $8.50 price objective on shares of Coeur Mining in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coeur Mining has a consensus rating of “Buy” and an average target price of $8.10.

Insider Buying and Selling

In other news, Director Eduardo Luna sold 17,160 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 101,841 shares of the company’s stock, valued at $797,415.03. This represents a 14.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.40, for a total value of $91,390.00. Following the sale, the chief accounting officer now directly owns 122,104 shares in the company, valued at $903,569.60. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,061 shares of company stock valued at $667,775. Corporate insiders own 1.56% of the company’s stock.

Coeur Mining Stock Up 0.9%

NYSE CDE opened at $9.23 on Friday. The stock’s 50 day moving average is $7.00 and its 200 day moving average is $6.46. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $9.69. The stock has a market cap of $5.90 billion, a PE ratio of 76.92 and a beta of 1.30.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s revenue was up 69.0% compared to the same quarter last year. Research analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

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.