Cornercap Investment Counsel Inc. Acquires New Stake in Coeur Mining, Inc. (NYSE:CDE)

Cornercap Investment Counsel Inc. bought a new position in Coeur Mining, Inc. (NYSE:CDE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 67,933 shares of the basic materials company’s stock, valued at approximately $389,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after acquiring an additional 665,452 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Coeur Mining in the third quarter worth about $1,311,000. BNP Paribas Financial Markets raised its position in shares of Coeur Mining by 180.7% in the third quarter. BNP Paribas Financial Markets now owns 310,577 shares of the basic materials company’s stock valued at $2,137,000 after purchasing an additional 199,919 shares during the period. US Bancorp DE lifted its stake in shares of Coeur Mining by 595.5% during the 4th quarter. US Bancorp DE now owns 87,962 shares of the basic materials company’s stock valued at $503,000 after buying an additional 75,314 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Coeur Mining in the 3rd quarter worth approximately $642,000. 63.01% of the stock is currently owned by institutional investors.

Insider Activity at Coeur Mining

In related news, CFO Thomas S. Whelan acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average price of $5.25 per share, with a total value of $52,500.00. Following the completion of the purchase, the chief financial officer now owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.56% of the stock is currently owned by company insiders.

Coeur Mining Trading Down 4.2 %

CDE stock opened at $6.08 on Friday. The company has a market capitalization of $3.88 billion, a PE ratio of 50.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. Coeur Mining, Inc. has a one year low of $4.03 and a one year high of $7.72. The company’s 50 day moving average price is $6.18 and its two-hundred day moving average price is $6.39.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. As a group, analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CDE. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. BMO Capital Markets assumed coverage on Coeur Mining in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price objective on the stock. Cormark upgraded Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. National Bank Financial raised Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. Finally, Roth Mkm cut their price objective on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.05.

Coeur Mining Profile

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.