VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Coeur Mining, Inc. $CDE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 255,456 shares of the basic materials company’s stock, valued at approximately $4,169,000.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Coeur Mining by 83.2% during the first quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company’s stock valued at $101,919,000 after buying an additional 2,466,122 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Coeur Mining by 92.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock valued at $222,922,000 after acquiring an additional 6,012,718 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Coeur Mining by 529.7% in the 1st quarter. Quantinno Capital Management LP now owns 224,300 shares of the basic materials company’s stock valued at $4,210,000 after acquiring an additional 188,682 shares during the last quarter. Norges Bank purchased a new stake in Coeur Mining during the 4th quarter valued at about $128,389,000. Finally, Allspring Global Investments Holdings LLC grew its position in Coeur Mining by 81.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company’s stock worth $69,896,000 after acquiring an additional 1,653,323 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Up 1.7%

NYSE:CDE opened at $21.01 on Thursday. The company has a 50-day moving average price of $17.89 and a 200-day moving average price of $18.75. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 17.96 and a beta of 1.39. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. Coeur Mining, Inc. has a 12 month low of $13.55 and a 12 month high of $27.77.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. Coeur Mining’s quarterly revenue was up 125.8% compared to the same quarter last year. Equities analysts predict that Coeur Mining, Inc. will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on CDE shares. Scotiabank lowered their price objective 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 shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Finally, Roth Capital set a $19.00 price target on shares of Coeur Mining in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Insiders Place Their Bets

In other Coeur Mining news, Director J. Kenneth Thompson sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total transaction of $519,250.00. Following the transaction, the director owned 257,333 shares in the company, valued at approximately $5,344,806.41. This represents a 8.85% 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, CFO Thomas 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 value of $125,220.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 51,000 shares of company stock worth $1,055,070. Company insiders own 0.90% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc (NYSE: CDE) is a precious metals mining company that explores for, develops, and produces gold and silver. The company’s activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur’s operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.