Northern Trust Corp Boosts Stock Holdings in Coeur Mining, Inc. (NYSE:CDE)

Northern Trust Corp increased its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,926,815 shares of the basic materials company’s stock after purchasing an additional 369,496 shares during the period. Northern Trust Corp owned approximately 0.98% of Coeur Mining worth $22,461,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Coeur Mining by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after purchasing an additional 3,178,785 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Coeur Mining by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock worth $98,137,000 after purchasing an additional 282,885 shares in the last quarter. Schroder Investment Management Group raised its holdings in Coeur Mining by 22.8% during the fourth quarter. Schroder Investment Management Group now owns 2,989,680 shares of the basic materials company’s stock worth $16,772,000 after purchasing an additional 555,430 shares in the last quarter. Marshall Wace LLP raised its holdings in Coeur Mining by 12,934.3% during the fourth quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock worth $16,998,000 after purchasing an additional 2,948,880 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Coeur Mining by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 2,504,978 shares of the basic materials company’s stock worth $14,328,000 after purchasing an additional 30,600 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CDE shares. TD Securities started coverage on shares of Coeur Mining in a research report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price on the stock. BMO Capital Markets started 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 lowered 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. Raymond James restated an “outperform” rating and set a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Coeur Mining currently has an average rating of “Buy” and a consensus price target of $8.10.

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 12,350 shares of Coeur Mining stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.40, for a total value of $91,390.00. Following the completion of the transaction, the chief accounting officer now directly owns 122,104 shares of the company’s stock, valued at approximately $903,569.60. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas S. Whelan purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $5.25 per share, with a total value 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 approximately $3,509,362.50. This trade represents a 1.52% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Coeur Mining Price Performance

CDE opened at $7.66 on Tuesday. The company has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $6.15. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 63.80 and a beta of 1.24. 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.

Coeur Mining (NYSE:CDE) last released 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%. The business’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. Equities research analysts expect 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.