Ruffer LLP Purchases Shares of 2,985,354 Coeur Mining, Inc. (NYSE:CDE)

Ruffer LLP acquired a new position in Coeur Mining, Inc. (NYSE:CDE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,985,354 shares of the basic materials company’s stock, valued at approximately $17,673,000. Coeur Mining accounts for 0.7% of Ruffer LLP’s holdings, making the stock its 29th largest position. Ruffer LLP owned approximately 0.47% of Coeur Mining as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CDE. City State Bank boosted its holdings in 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 acquiring an additional 2,274 shares during the period. Quarry LP lifted its position in Coeur Mining by 853.8% in the fourth quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 5,968 shares during the last quarter. Optiver Holding B.V. boosted its stake in shares of Coeur Mining by 150.5% during the fourth quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 4,903 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Coeur Mining in the first quarter worth approximately $53,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Coeur Mining in the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 12,350 shares of the company’s stock in a transaction 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 directly owned 122,104 shares of the company’s stock, valued at $903,569.60. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pierre Beaudoin sold 60,551 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the transaction, the director owned 188,362 shares of the company’s stock, valued at approximately $1,375,042.60. This trade represents a 24.33% decrease in their position. 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. Company insiders own 1.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Coeur Mining Stock Down 0.2%

Shares of NYSE CDE opened at $8.67 on Monday. The firm has a fifty day simple moving average of $9.01 and a two-hundred day simple moving average of $7.17. Coeur Mining, Inc. has a 12 month low of $4.57 and a 12 month high of $9.97. The company has a current ratio of 1.93, a quick ratio of 0.62 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.55 billion, a PE ratio of 33.35 and a beta of 1.16.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results 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 quarter in the previous year, the company earned ($0.05) EPS. Coeur Mining’s quarterly revenue was up 69.0% compared to the same quarter last year. Equities analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current 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.