Empire Life Investments Inc. Invests $2.27 Million in Coeur Mining, Inc. (NYSE:CDE)

Empire Life Investments Inc. bought a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 383,373 shares of the basic materials company’s stock, valued at approximately $2,270,000. Empire Life Investments Inc. owned about 0.06% of Coeur Mining at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CDE. Two Sigma Advisers LP raised its holdings in shares of Coeur Mining by 404.6% in the fourth quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock worth $29,110,000 after buying an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Coeur Mining during the fourth quarter valued at $21,224,000. Jupiter Asset Management Ltd. grew its holdings in shares of Coeur Mining by 60.9% during the first quarter. Jupiter Asset Management Ltd. now owns 8,541,297 shares of the basic materials company’s stock valued at $50,564,000 after buying an additional 3,233,383 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Coeur Mining by 8.5% in 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 acquiring an additional 3,178,785 shares during the period. Finally, Marshall Wace LLP raised its stake in Coeur Mining by 12,934.3% in the 4th quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock worth $16,998,000 after acquiring an additional 2,948,880 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Down 0.2%

Shares of CDE opened at $8.67 on Monday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 33.35 and a beta of 1.16. Coeur Mining, Inc. has a 52 week low of $4.57 and a 52 week high of $9.97. The stock’s 50-day moving average price is $9.01 and its 200-day moving average price is $7.17. The company has a quick ratio of 0.62, a current ratio of 1.93 and a debt-to-equity ratio of 0.17.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping 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%. The company’s revenue was up 69.0% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, sell-side analysts predict that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Insider Activity at Coeur Mining

In related news, Director Eduardo Luna sold 17,160 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the sale, the director directly owned 101,841 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining 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 transaction, the chief accounting officer directly owned 122,104 shares of the company’s stock, valued at $903,569.60. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,061 shares of company stock worth $667,775 in the last three months. Company insiders own 1.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. National Bankshares set a $12.00 price target on Coeur Mining in a research note on Friday, June 13th. Roth Capital reiterated a “buy” rating and issued a $12.00 target price (up previously from $10.00) on shares of Coeur Mining in a research report on Tuesday, July 1st. Finally, National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Coeur Mining has a consensus rating of “Buy” and an average target price of $9.21.

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.