TSP Capital Management Group LLC Sells 53,725 Shares of Coeur Mining, Inc. $CDE

TSP Capital Management Group LLC reduced its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 656,125 shares of the basic materials company’s stock after selling 53,725 shares during the quarter. Coeur Mining accounts for about 1.8% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 22nd biggest holding. TSP Capital Management Group LLC owned 0.10% of Coeur Mining worth $5,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MAI Capital Management bought a new stake in shares of Coeur Mining during the first quarter valued at approximately $25,000. Summer Road LLC purchased a new stake in Coeur Mining during the 1st quarter valued at $28,000. State of Wyoming bought a new stake in shares of Coeur Mining in the 1st quarter worth $52,000. Banque Cantonale Vaudoise purchased a new position in shares of Coeur Mining in the first quarter worth $53,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Coeur Mining during the first quarter valued at $60,000. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Down 0.7%

Shares of CDE stock opened at $14.36 on Wednesday. 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, Inc. has a 12 month low of $4.58 and a 12 month high of $23.61. The stock has a market cap of $9.22 billion, a P/E ratio of 21.76 and a beta of 1.21. The company has a 50 day simple moving average of $17.66 and a two-hundred day simple moving average of $12.47.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Coeur Mining had a net margin of 24.03% and a return on equity of 17.01%. The company had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. During the same quarter last year, the firm posted $0.12 earnings per share. Coeur Mining’s revenue for the quarter was up 76.9% on a year-over-year basis. On average, research analysts expect that Coeur Mining, Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

CDE has been the subject of several research analyst reports. Weiss Ratings upgraded Coeur Mining from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, November 13th. Roth Capital set a $20.00 price target on shares of Coeur Mining and gave the stock a “buy” rating in a research note on Friday, October 3rd. Cormark downgraded shares of Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Wall Street Zen cut shares of Coeur Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, TD Securities boosted their target price on shares of Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $16.32.

Insider Transactions at Coeur Mining

In other Coeur Mining news, SVP Casey M. Nault sold 102,257 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $12.00, for a total transaction of $1,227,084.00. Following the sale, the senior vice president owned 568,623 shares in the company, valued at approximately $6,823,476. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mitchell J. Krebs sold 125,000 shares of Coeur Mining stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,831,250.00. Following the transaction, the chief executive officer directly owned 2,197,309 shares in the company, valued at $32,190,576.85. This represents a 5.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 352,257 shares of company stock worth $4,878,334. Insiders own 1.50% of the company’s stock.

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.