Teacher Retirement System of Texas Takes $813,000 Position in Coeur Mining, Inc. (NYSE:CDE)

Teacher Retirement System of Texas purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 137,266 shares of the basic materials company’s stock, valued at approximately $813,000.

Other large investors also recently modified their holdings of the company. City State Bank raised its position in shares of Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company’s stock valued at $37,000 after buying an additional 2,274 shares in the last quarter. Quarry LP raised its holdings in Coeur Mining by 853.8% during the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after buying an additional 5,968 shares during the period. Optiver Holding B.V. raised its holdings in Coeur Mining by 150.5% during the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock valued at $47,000 after buying an additional 4,903 shares during the period. DRW Securities LLC purchased a new stake in shares of Coeur Mining in the fourth quarter valued at $60,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of Coeur Mining in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDE. Raymond James Financial reaffirmed an “outperform” rating and issued a $8.50 price objective on shares of Coeur Mining in a research report on Wednesday, April 2nd. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a research note on Thursday, June 12th. National Bankshares set a $12.00 price objective on shares of Coeur Mining in a report on Friday, June 13th. Finally, Roth Capital reiterated a “buy” rating and set a $12.00 price target (up previously from $10.00) on shares of Coeur Mining in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.21.

Coeur Mining Stock Performance

Shares of CDE stock opened at $9.43 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93. The stock has a market cap of $6.03 billion, a PE ratio of 36.25 and a beta of 1.32. The stock has a fifty day moving average price of $8.50 and a 200 day moving average price of $6.87. Coeur Mining, Inc. has a 1 year low of $4.57 and a 1 year high of $9.97.

Coeur Mining (NYSE:CDE) last issued 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 return on equity of 9.96% and a net margin of 10.11%. During the same period in the prior year, the firm posted ($0.05) earnings per share. Coeur Mining’s revenue was up 69.0% on a year-over-year basis. Sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Kenneth J. Watkinson sold 12,350 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.40, for a total transaction of $91,390.00. Following the completion of the sale, the chief accounting officer directly owned 122,104 shares of the company’s stock, valued at approximately $903,569.60. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total value of $134,362.80. Following the completion of the transaction, the director owned 101,841 shares of the company’s stock, valued at $797,415.03. This trade represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,061 shares of company stock worth $667,775. 1.50% of the stock is currently owned by corporate insiders.

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.