Summit Investment Advisors Inc. Raises Stake in Coeur Mining, Inc. (NYSE:CDE)

Summit Investment Advisors Inc. grew its holdings in Coeur Mining, Inc. (NYSE:CDE) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 41,333 shares of the basic materials company’s stock after buying an additional 2,624 shares during the period. Summit Investment Advisors Inc.’s holdings in Coeur Mining were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CDE. Vanguard Group Inc. lifted its position in Coeur Mining by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after acquiring an additional 3,178,785 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Coeur Mining by 253.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company’s stock valued at $8,419,000 after buying an additional 1,055,084 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Coeur Mining in the 4th quarter valued at $4,439,000. Invesco Ltd. raised its position in Coeur Mining by 41.7% during the 4th quarter. Invesco Ltd. now owns 2,273,198 shares of the basic materials company’s stock worth $13,003,000 after buying an additional 668,423 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after acquiring an additional 665,452 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Activity at Coeur Mining

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the transaction, the chief financial officer now 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 is available through this link. 1.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Securities initiated coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price target for the company. BMO Capital Markets started coverage on Coeur Mining in a report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target for the company. Raymond James reaffirmed an “outperform” rating and set a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. Cormark raised Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. Finally, National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Coeur Mining currently has an average rating of “Buy” and an average target price of $8.10.

Coeur Mining Trading Down 0.8 %

Shares of CDE stock opened at $5.98 on Tuesday. The stock has a market cap of $3.82 billion, a P/E ratio of 49.84 and a beta of 1.35. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. Coeur Mining, Inc. has a fifty-two week low of $4.03 and a fifty-two week high of $7.72. The business has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $6.22.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The firm had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.32 million. On average, analysts forecast 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.