Allspring Global Investments Holdings LLC Acquires 989,952 Shares of Coeur Mining, Inc. (NYSE:CDE)

Allspring Global Investments Holdings LLC increased its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 3,091.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,974 shares of the basic materials company’s stock after acquiring an additional 989,952 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coeur Mining were worth $6,050,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDE. Cambridge Investment Research Advisors Inc. boosted its position in Coeur Mining by 150.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 215,707 shares of the basic materials company’s stock worth $1,277,000 after purchasing an additional 129,574 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Coeur Mining during the 1st quarter worth about $540,000. US Bancorp DE boosted its holdings 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 worth $503,000 after buying an additional 75,314 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Coeur Mining by 2,203.1% during the 4th quarter. Russell Investments Group Ltd. now owns 232,916 shares of the basic materials company’s stock worth $1,332,000 after buying an additional 222,803 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Coeur Mining by 253.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,471,887 shares of the basic materials company’s stock valued at $8,419,000 after buying an additional 1,055,084 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling at Coeur Mining

In related news, Director Eduardo Luna sold 17,160 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $7.83, for a total transaction of $134,362.80. Following the completion of the transaction, the director directly owned 101,841 shares of the company’s stock, valued at $797,415.03. This trade represents a 14.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pierre Beaudoin sold 60,551 shares of Coeur Mining stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $7.30, for a total value of $442,022.30. Following the completion of the transaction, the director directly owned 188,362 shares in the company, valued at approximately $1,375,042.60. This represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CDE shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $8.50 target price on shares of Coeur Mining in a research report on Wednesday, April 2nd. TD Securities initiated coverage on Coeur Mining in a report on Tuesday, March 11th. They issued a “buy” rating and a $7.00 price objective on the stock. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research report on Tuesday, March 11th. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research report on Friday, June 13th. Finally, National Bank Financial upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.21.

Coeur Mining Price Performance

Shares of NYSE CDE opened at $9.08 on Friday. The business has a fifty day moving average price of $8.05 and a two-hundred day moving average price of $6.72. The stock has a market capitalization of $5.81 billion, a PE ratio of 34.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.93 and a quick ratio of 0.62. Coeur Mining, Inc. has a fifty-two week low of $4.57 and a fifty-two week high of $9.69.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 9.96% and a net margin of 10.11%. The firm’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. As a group, equities analysts predict that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

About Coeur Mining

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.