BFI Infinity Ltd. Makes New Investment in Coeur Mining, Inc. $CDE

BFI Infinity Ltd. purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 48,117 shares of the basic materials company’s stock, valued at approximately $847,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDE. Arrowstreet Capital Limited Partnership lifted its position in Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after acquiring an additional 13,418,041 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Coeur Mining by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock worth $241,484,000 after purchasing an additional 3,291,431 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Coeur Mining by 889.6% during the first quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company’s stock worth $128,965,000 after purchasing an additional 6,176,524 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Coeur Mining during the second quarter worth about $104,760,000. Finally, Amundi increased its position in shares of Coeur Mining by 107.0% during the first quarter. Amundi now owns 6,164,731 shares of the basic materials company’s stock worth $115,712,000 after purchasing an additional 3,186,761 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CFO Thomas S. Whelan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total transaction of $125,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Kenneth Thompson sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the transaction, the director directly owned 257,333 shares in the company, valued at approximately $5,344,806.41. The trade was a 8.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,000 shares of company stock valued at $1,055,070 in the last ninety days. Insiders own 0.90% of the company’s stock.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $15.42 on Friday. Coeur Mining, Inc. has a one year low of $13.55 and a one year high of $27.77. The stock has a market capitalization of $15.85 billion, a price-to-earnings ratio of 13.18 and a beta of 1.37. The company has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $18.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.44 and a current ratio of 3.65.

Coeur Mining (NYSE:CDE) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $0.20 EPS. The business’s quarterly revenue was up 125.8% compared to the same quarter last year. On average, analysts predict that Coeur Mining, Inc. will post 0.88 EPS for the current year.

Analyst Upgrades and Downgrades

CDE has been the subject of several research reports. Weiss Ratings raised Coeur Mining from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Scotiabank decreased their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Roth Capital set a $19.00 price target on Coeur Mining in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company that explores, develops, and operates mines primarily producing gold and silver. The company also conducts related activities, including mineral exploration, project development, processing, and the sale of recovered metals.

Coeur’s operating portfolio has included the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Rochester silver-gold mine in Nevada, and the Palmarejo and Las Chispas operations in Mexico.