Swiss National Bank Raises Position in Coeur Mining, Inc. (NYSE:CDE)

Swiss National Bank raised its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 785,300 shares of the basic materials company’s stock after acquiring an additional 5,700 shares during the period. Swiss National Bank’s holdings in Coeur Mining were worth $4,492,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Merit Financial Group LLC lifted its stake in shares of Coeur Mining by 5.4% in the 4th quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 1,607 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Coeur Mining by 0.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 315,190 shares of the basic materials company’s stock valued at $1,803,000 after purchasing an additional 2,323 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Coeur Mining by 139.8% during the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 3,359 shares during the period. Rhumbline Advisers grew its holdings in shares of Coeur Mining by 0.9% in the fourth quarter. Rhumbline Advisers now owns 625,026 shares of the basic materials company’s stock worth $3,575,000 after purchasing an additional 5,328 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Coeur Mining by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,248,706 shares of the basic materials company’s stock worth $7,143,000 after buying an additional 5,541 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CDE. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research report on Tuesday, February 18th. They set an “outperform” rating and a $9.00 price target for the company. TD Securities started coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price for the company. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. Raymond James upgraded Coeur Mining from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $8.75 to $8.25 in a report on Friday, February 21st. Finally, TD Cowen raised Coeur Mining to a “strong-buy” rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $8.05.

Insider Activity

In related news, CFO Thomas S. Whelan purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $5.25 per share, with a total value of $52,500.00. Following the transaction, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.56% of the company’s stock.

Coeur Mining Stock Performance

Shares of CDE opened at $6.35 on Wednesday. The company has a 50-day simple moving average of $6.18 and a two-hundred day simple moving average of $6.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.83 and a quick ratio of 0.39. The firm has a market capitalization of $4.05 billion, a PE ratio of 52.92 and a beta of 1.51. Coeur Mining, Inc. has a one year low of $3.36 and a one year high of $7.72.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.32 million. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. On average, analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current fiscal 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.