Salem Investment Counselors Inc. Buys 49,500 Shares of Coeur Mining, Inc. (NYSE:CDE)

Salem Investment Counselors Inc. raised its stake in Coeur Mining, Inc. (NYSE:CDE) by 10.6% during the first quarter, HoldingsChannel.com reports. The fund owned 514,600 shares of the basic materials company’s stock after purchasing an additional 49,500 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Coeur Mining were worth $1,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Coeur Mining by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,864,964 shares of the basic materials company’s stock worth $70,740,000 after buying an additional 1,716,929 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coeur Mining by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,153,752 shares of the basic materials company’s stock worth $9,221,000 after buying an additional 274,878 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Coeur Mining by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock worth $52,445,000 after buying an additional 84,920 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Coeur Mining by 15.2% in the 4th quarter. First Eagle Investment Management LLC now owns 2,140,221 shares of the basic materials company’s stock worth $6,977,000 after buying an additional 282,708 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Coeur Mining by 1.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 247,169 shares of the basic materials company’s stock worth $806,000 after buying an additional 4,175 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $4.86, for a total value of $213,840.00. Following the completion of the sale, the chief accounting officer now owns 140,719 shares of the company’s stock, valued at approximately $683,894.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Kenneth J. Watkinson sold 44,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $4.86, for a total value of $213,840.00. Following the completion of the sale, the chief accounting officer now owns 140,719 shares of the company’s stock, valued at approximately $683,894.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sebastian Edwards sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total transaction of $101,600.00. Following the completion of the sale, the director now directly owns 103,100 shares of the company’s stock, valued at approximately $523,748. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. National Bank Financial restated an “outperform spec market weight” rating on shares of Coeur Mining in a report on Monday, April 8th. BMO Capital Markets upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.25 to $5.50 in a report on Friday, May 3rd. Raymond James upped their price target on shares of Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a report on Monday, April 8th. Roth Capital reiterated a “buy” rating on shares of Coeur Mining in a report on Tuesday, April 9th. Finally, Roth Mkm started coverage on shares of Coeur Mining in a report on Tuesday, April 9th. They set a “buy” rating and a $5.40 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Coeur Mining presently has an average rating of “Moderate Buy” and an average price target of $4.36.

Coeur Mining Price Performance

Shares of CDE stock opened at $5.75 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.43 and a current ratio of 0.99. The company’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $3.90. Coeur Mining, Inc. has a one year low of $2.00 and a one year high of $6.05.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $213.10 million for the quarter, compared to the consensus estimate of $203.43 million. Coeur Mining had a negative net margin of 12.77% and a negative return on equity of 6.28%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.08 EPS 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.