Teacher Retirement System of Texas Grows Stake in Coeur Mining, Inc. $CDE

Teacher Retirement System of Texas lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,895 shares of the basic materials company’s stock after purchasing an additional 3,629 shares during the period. Teacher Retirement System of Texas’ holdings in Coeur Mining were worth $1,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MAI Capital Management purchased a new stake in shares of Coeur Mining during the first quarter worth about $25,000. Summer Road LLC purchased a new stake in shares of Coeur Mining during the first quarter worth about $28,000. State of Wyoming purchased a new stake in shares of Coeur Mining during the first quarter worth about $52,000. Banque Cantonale Vaudoise purchased a new stake in shares of Coeur Mining during the first quarter worth about $53,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Coeur Mining during the first quarter worth about $60,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

Coeur Mining stock opened at $14.19 on Thursday. The firm has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $11.85. Coeur Mining, Inc. has a 1-year low of $4.58 and a 1-year high of $23.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 21.50 and a beta of 1.21.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The firm had revenue of $554.57 million during the quarter, compared to analysts’ expectations of $511.20 million. During the same period last year, the company earned $0.12 EPS. The business’s quarterly revenue was up 76.9% on a year-over-year basis. On average, analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

CDE has been the subject of a number of recent research reports. Cormark downgraded shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coeur Mining in a report on Thursday, October 30th. Raymond James Financial set a $21.00 price objective on shares of Coeur Mining in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Coeur Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.75.

Insider Activity

In related news, CAO Kenneth J. Watkinson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total transaction of $92,960.00. Following the completion of the transaction, the chief accounting officer owned 143,007 shares of the company’s stock, valued at approximately $1,661,741.34. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Casey M. Nault sold 102,257 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the transaction, the senior vice president directly owned 568,623 shares of the company’s stock, valued at $6,823,476. The trade was a 15.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 416,619 shares of company stock worth $5,624,362 in the last three months. 1.56% of the stock is currently owned by corporate insiders.

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.