Saudi Central Bank Buys 34,221 Shares of Coeur Mining, Inc. $CDE

Saudi Central Bank increased its stake in Coeur Mining, Inc. (NYSE:CDE) by 89.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,417 shares of the basic materials company’s stock after buying an additional 34,221 shares during the quarter. Saudi Central Bank’s holdings in Coeur Mining were worth $1,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaGrep UK Ltd purchased a new stake in shares of Coeur Mining in the second quarter worth approximately $527,000. Turner Financial Group Inc. bought a new stake in Coeur Mining during the 2nd quarter valued at $249,000. Oakmont Investment Advisors Inc. purchased a new stake in shares of Coeur Mining in the 2nd quarter worth $947,000. ZEGA Investments LLC lifted its holdings in shares of Coeur Mining by 4.8% in the 2nd quarter. ZEGA Investments LLC now owns 10,581 shares of the basic materials company’s stock worth $173,000 after buying an additional 481 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in shares of Coeur Mining by 30.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 54,712 shares of the basic materials company’s stock worth $893,000 after buying an additional 12,865 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CDE shares. Roth Capital set a $19.00 price target on Coeur Mining in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Zacks Research raised shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Scotiabank reduced their price target on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Coeur Mining Trading Down 2.5%

Shares of Coeur Mining stock opened at $20.70 on Wednesday. Coeur Mining, Inc. has a 12-month low of $13.55 and a 12-month high of $27.77. The firm’s 50 day simple moving average is $17.80 and its two-hundred day simple moving average is $18.77. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 17.70 and a beta of 1.39.

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

Insider Buying and Selling at Coeur Mining

In related news, CFO Thomas S. Whelan sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Casey M. Nault sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares in the company, valued at approximately $10,801,720. The trade was a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 41,000 shares of company stock worth $844,470. Company insiders own 0.90% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.