Traders Purchase Large Volume of Call Options on Coeur Mining (NYSE:CDE)

Coeur Mining, Inc. (NYSE:CDE) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 26,568 call options on the company. This represents an increase of approximately 41% compared to the typical volume of 18,883 call options.

Insider Transactions at Coeur Mining

In other news, EVP Casey Nault sold 10,000 shares of Coeur Mining stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president owned 540,086 shares in the company, valued at $10,801,720. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Whelan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The disclosure for this sale is available in the SEC filing. Insiders sold 51,000 shares of company stock worth $1,055,070 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Coeur Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its stake 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 purchasing an additional 13,418,041 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Coeur Mining by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock worth $241,484,000 after buying an additional 3,291,431 shares in the last quarter. Renaissance Technologies LLC grew its stake in Coeur Mining by 889.6% in the 1st quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company’s stock worth $128,965,000 after buying an additional 6,176,524 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Coeur Mining in the 2nd quarter worth $104,760,000. Finally, Amundi raised its holdings in shares of Coeur Mining by 107.0% during the 1st quarter. Amundi now owns 6,164,731 shares of the basic materials company’s stock valued at $115,712,000 after buying an additional 3,186,761 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Price Performance

Shares of CDE stock traded up $0.93 on Wednesday, reaching $14.34. The company’s stock had a trading volume of 12,146,180 shares, compared to its average volume of 31,283,137. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. Coeur Mining has a 12-month low of $12.71 and a 12-month high of $27.77. The company has a market capitalization of $14.74 billion, a P/E ratio of 12.22 and a beta of 1.46. The stock’s 50 day simple moving average is $17.84 and its 200-day simple moving average is $18.87.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data 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 business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $0.20 EPS. Coeur Mining’s quarterly revenue was up 125.8% on a year-over-year basis. As a group, equities analysts predict that Coeur Mining will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CDE shares. Scotiabank lowered their target price on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Zacks Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings lowered Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Finally, Roth Capital set a $19.00 price objective on Coeur Mining in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.06.

Coeur Mining Company Profile

Coeur Mining, Inc is a precious metals mining company headquartered in Chicago, Illinois. The company explores for, develops, and operates mines that produce gold and silver, with its activities focused primarily in North America.

Coeur’s operating portfolio includes the Rochester gold and silver mine in Nevada, the Wharf gold mine in South Dakota, the Kensington gold mine in Alaska, and the Las Chispas silver and gold operation in Sonora, Mexico. The company also maintains exploration and development interests in additional mineral properties.

Founded in 1928, Coeur Mining has grown through the development and acquisition of precious metals assets.