Tocqueville Asset Management L.P. Purchases New Shares in Coeur Mining, Inc. (NYSE:CDE)

Tocqueville Asset Management L.P. purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 709,884 shares of the basic materials company’s stock, valued at approximately $4,203,000. Tocqueville Asset Management L.P. owned 0.11% of Coeur Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Coeur Mining by 57.3% during the first quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company’s stock worth $378,903,000 after purchasing an additional 23,303,638 shares during the period. Nuveen LLC acquired a new stake in Coeur Mining during the first quarter worth approximately $27,519,000. Dimensional Fund Advisors LP increased its stake in Coeur Mining by 26.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company’s stock worth $128,774,000 after acquiring an additional 4,594,097 shares during the period. Two Sigma Advisers LP increased its stake in Coeur Mining by 404.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock worth $29,110,000 after acquiring an additional 4,080,600 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Coeur Mining in the 4th quarter valued at $21,224,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Trading Up 0.7%

Shares of Coeur Mining stock opened at $11.67 on Friday. The firm’s 50 day moving average is $9.50 and its 200 day moving average is $7.49. The firm has a market capitalization of $7.50 billion, a PE ratio of 31.54 and a beta of 1.16. Coeur Mining, Inc. has a 1 year low of $4.58 and a 1 year high of $11.97. The company has a current ratio of 1.61, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $480.65 million for the quarter, compared to analysts’ expectations of $438.40 million. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The company’s revenue was up 116.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research raised Coeur Mining to a “hold” rating in a report on Tuesday, August 12th. Roth Capital reiterated a “buy” rating and set a $13.00 price objective on shares of Coeur Mining in a research note on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a report on Thursday, June 12th. Finally, National Bankshares set a $12.00 price objective on shares of Coeur Mining in a research note on Friday, June 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $9.79.

Insider Activity

In other news, SVP Casey M. Nault sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $10.02, for a total value of $1,002,000.00. Following the completion of the transaction, the senior vice president owned 670,880 shares of the company’s stock, valued at $6,722,217.60. This represents a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eduardo Luna sold 17,160 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the transaction, the director owned 101,841 shares of the company’s stock, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,522 shares of company stock valued at $1,882,391. 1.50% of the stock is currently owned by company insiders.

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.