Tidal Investments LLC Raises Stake in Coeur Mining, Inc. (NYSE:CDE)

Tidal Investments LLC lifted its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,343,775 shares of the basic materials company’s stock after buying an additional 1,332,684 shares during the quarter. Coeur Mining makes up 0.6% of Tidal Investments LLC’s investment portfolio, making the stock its 16th largest position. Tidal Investments LLC owned about 3.34% of Coeur Mining worth $76,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP grew its holdings 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 period. Optiver Holding B.V. lifted its position in 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 buying an additional 4,903 shares in the last quarter. DRW Securities LLC acquired a new position in Coeur Mining during the fourth quarter valued at approximately $60,000. ZEGA Investments LLC acquired a new position in Coeur Mining during the fourth quarter valued at approximately $64,000. Finally, Freestone Grove Partners LP acquired a new position in Coeur Mining during the fourth quarter valued at approximately $65,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This represents a 1.52% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pierre Beaudoin sold 60,551 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $7.30, for a total transaction of $442,022.30. Following the completion of the transaction, the director now owns 188,362 shares of the company’s stock, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDE shares. Raymond James reaffirmed an “outperform” rating and set a $8.50 price target on shares of Coeur Mining in a research report on Wednesday, April 2nd. 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 target price on the stock. Roth Mkm reduced their target price on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research report on Friday, February 21st. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Cormark raised shares of Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coeur Mining has a consensus rating of “Buy” and an average price target of $8.10.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $7.46 on Friday. Coeur Mining, Inc. has a twelve month low of $4.57 and a twelve month high of $7.85. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 62.14 and a beta of 1.24. The firm has a 50-day moving average of $6.04 and a two-hundred day moving average of $6.17.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was up 69.0% compared to the same quarter last year. As a group, analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

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.