Dark Forest Capital Management LP Purchases 223,144 Shares of Coeur Mining, Inc. (NYSE:CDE)

Dark Forest Capital Management LP lifted its position in Coeur Mining, Inc. (NYSE:CDE) by 1,063.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,120 shares of the basic materials company’s stock after purchasing an additional 223,144 shares during the quarter. Dark Forest Capital Management LP owned 0.06% of Coeur Mining worth $1,396,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Coeur Mining by 139.8% in the fourth quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after buying an additional 3,359 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Coeur Mining in the 4th quarter valued at $57,000. ZEGA Investments LLC bought a new position in shares of Coeur Mining during the 4th quarter valued at $64,000. DRW Securities LLC purchased a new position in Coeur Mining in the 4th quarter worth $60,000. Finally, Empowered Funds LLC bought a new stake in Coeur Mining in the fourth quarter worth $66,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDE. 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 objective on the stock. National Bank Financial raised Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. TD Securities assumed coverage on Coeur Mining in a research note on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective for the company. TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research note 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 equities research 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 MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $8.10.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $5.25 per share, with a total value of $52,500.00. Following the transaction, the chief financial officer now owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. The trade was a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.56% of the stock is currently owned by company insiders.

Coeur Mining Price Performance

Shares of Coeur Mining stock opened at $5.74 on Wednesday. The company has a market cap of $3.67 billion, a PE ratio of 47.84 and a beta of 1.35. The business has a 50 day moving average of $5.78 and a 200 day moving average of $6.22. Coeur Mining, Inc. has a 52 week low of $4.13 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.

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

Coeur Mining 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.