Man Group plc Increases Position in Coeur Mining, Inc. (NYSE:CDE)

Man Group plc lifted its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 492.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,139,842 shares of the basic materials company’s stock after buying an additional 947,602 shares during the quarter. Man Group plc’s holdings in Coeur Mining were worth $6,520,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP raised its stake in shares of Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 5,968 shares during the period. Optiver Holding B.V. grew its holdings in Coeur Mining by 150.5% during the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 4,903 shares in the last quarter. ZEGA Investments LLC acquired a new position in Coeur Mining during the 4th quarter worth $64,000. DRW Securities LLC acquired a new position in Coeur Mining during the 4th quarter worth $60,000. Finally, Freestone Grove Partners LP acquired a new position in Coeur Mining during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas S. Whelan bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the purchase, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kenneth J. Watkinson sold 12,350 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $7.40, for a total transaction of $91,390.00. Following the transaction, the chief accounting officer now owns 122,104 shares of the company’s stock, valued at approximately $903,569.60. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Roth Mkm decreased their price target on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. BMO Capital Markets started coverage on shares of Coeur Mining in a research note 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 issued a $8.50 price target on shares of Coeur Mining in a research note on Wednesday, April 2nd. TD Securities initiated coverage on shares of Coeur Mining in a research report on Tuesday, March 11th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Cormark upgraded 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 issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.10.

Coeur Mining Stock Performance

Shares of CDE opened at $7.83 on Wednesday. The company’s 50 day moving average price is $6.11 and its 200 day moving average price is $6.19. Coeur Mining, Inc. has a 52 week low of $4.57 and a 52 week high of $7.88. The company has a market capitalization of $5.01 billion, a PE ratio of 65.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. Coeur Mining’s revenue was up 69.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. 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.