Mackenzie Financial Corp Boosts Stock Holdings in Coeur Mining, Inc. (NYSE:CDE)

Mackenzie Financial Corp lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 7,857.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,036,558 shares of the basic materials company’s stock after acquiring an additional 2,010,965 shares during the quarter. Mackenzie Financial Corp owned 0.32% of Coeur Mining worth $12,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. City State Bank increased its holdings in Coeur Mining by 56.9% in the first 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 during the last quarter. Summit Investment Advisors Inc. increased its holdings in Coeur Mining by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company’s stock valued at $236,000 after buying an additional 2,624 shares during the last quarter. Navellier & Associates Inc. increased its holdings in Coeur Mining by 8.9% in the first quarter. Navellier & Associates Inc. now owns 41,876 shares of the basic materials company’s stock valued at $228,000 after buying an additional 3,411 shares during the last quarter. Optiver Holding B.V. increased its holdings in Coeur Mining by 150.5% in the fourth 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 last quarter. Finally, Highland Capital Management LLC increased its holdings in Coeur Mining by 23.1% in the first quarter. Highland Capital Management LLC now owns 28,645 shares of the basic materials company’s stock valued at $170,000 after buying an additional 5,378 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Transactions at Coeur Mining

In other news, 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 transaction of $134,362.80. Following the completion of the sale, the director owned 101,841 shares in the company, valued at approximately $797,415.03. This represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre Beaudoin sold 60,551 shares of the 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 sale, the director owned 188,362 shares of the company’s stock, valued at $1,375,042.60. This trade represents a 24.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,061 shares of company stock worth $667,775. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDE shares. National Bank Financial raised Coeur Mining to a “strong-buy” rating in a report on Thursday, June 12th. Roth Capital reissued a “buy” rating and issued a $12.00 target price (up previously from $10.00) on shares of Coeur Mining in a report on Tuesday, July 1st. Finally, National Bankshares set a $12.00 target price on Coeur Mining in a report on Friday, June 13th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.21.

Coeur Mining Stock Performance

NYSE CDE opened at $8.70 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.93 and a quick ratio of 0.62. Coeur Mining, Inc. has a 1 year low of $4.57 and a 1 year high of $9.97. The company has a market capitalization of $5.56 billion, a PE ratio of 33.44 and a beta of 1.32. The company has a fifty day moving average of $9.00 and a two-hundred day moving average of $7.14.

Coeur Mining (NYSE:CDE) last released 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%. During the same period in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 69.0% on a year-over-year basis. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

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.