Bank of New York Mellon Corp Grows Holdings in Coeur Mining, Inc. (NYSE:CDE)

Bank of New York Mellon Corp grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 51.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,894,558 shares of the basic materials company’s stock after purchasing an additional 645,852 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.30% of Coeur Mining worth $11,216,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Coeur Mining by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock valued at $232,805,000 after buying an additional 3,178,785 shares during the period. Dimensional Fund Advisors LP grew its holdings in Coeur Mining by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock worth $98,137,000 after acquiring an additional 282,885 shares in the last quarter. Tidal Investments LLC grew its holdings in Coeur Mining by 11.1% during the 4th quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock worth $76,326,000 after acquiring an additional 1,332,684 shares in the last quarter. Two Sigma Investments LP increased its position in 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. Finally, Two Sigma Advisers LP raised its holdings in shares of Coeur Mining by 404.6% in 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 in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Down 1.1%

Coeur Mining stock opened at $9.08 on Monday. 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 $5.81 billion, a PE ratio of 34.92 and a beta of 1.32. The stock has a 50-day moving average of $8.70 and a two-hundred day moving average of $6.96. Coeur Mining, Inc. has a one year low of $4.57 and a one year high of $9.97.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating 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%. The company’s quarterly revenue was up 69.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, research analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining 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 owned 188,362 shares of the company’s stock, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eduardo Luna sold 17,160 shares of the 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 completion of the transaction, the director directly owned 101,841 shares in the company, valued at $797,415.03. This represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,061 shares of company stock worth $667,775. 1.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Coeur Mining Company 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.