Daiwa Securities Group Inc. Purchases New Position in Coeur Mining, Inc. (NYSE:CDE)

Daiwa Securities Group Inc. purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 56,900 shares of the basic materials company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDE. Jennison Associates LLC purchased a new stake in Coeur Mining in the third quarter valued at $579,000. Intech Investment Management LLC purchased a new stake in Coeur Mining in the third quarter valued at $642,000. Landscape Capital Management L.L.C. purchased a new stake in Coeur Mining in the third quarter valued at $388,000. Navellier & Associates Inc. purchased a new stake in Coeur Mining in the third quarter valued at $294,000. Finally, FMR LLC lifted its position in Coeur Mining by 1,011.0% in the third quarter. FMR LLC now owns 137,504 shares of the basic materials company’s stock valued at $946,000 after acquiring an additional 125,127 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Up 1.8 %

Shares of Coeur Mining stock opened at $6.05 on Monday. Coeur Mining, Inc. has a 52-week low of $2.98 and a 52-week high of $7.72. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $6.16 and its 200-day simple moving average is $6.35. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 50.38 and a beta of 1.51.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The business had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Thomas S. Whelan bought 10,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the transaction, the chief financial officer now owns 668,450 shares of the company’s stock, valued at $3,509,362.50. This represents a 1.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CDE has been the topic of a number of recent research reports. Raymond James upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $8.75 to $8.25 in a research note on Friday, February 21st. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price objective on the stock. Roth Mkm dropped their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research note on Friday, February 21st. TD Securities initiated coverage on shares of Coeur Mining in a research note on Tuesday, March 11th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Cormark upgraded shares of Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $8.05.

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.