Norges Bank Invests $1.39 Million in Coeur Mining, Inc. (NYSE:CDE)

Norges Bank bought a new stake in Coeur Mining, Inc. (NYSE:CDE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 242,554 shares of the basic materials company’s stock, valued at approximately $1,387,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Coeur Mining by 1,011.0% in the third quarter. FMR LLC now owns 137,504 shares of the basic materials company’s stock valued at $946,000 after buying an additional 125,127 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Coeur Mining by 14.1% in the 3rd quarter. Wellington Management Group LLP now owns 932,074 shares of the basic materials company’s stock valued at $6,413,000 after purchasing an additional 114,870 shares in the last quarter. Barclays PLC raised its holdings in Coeur Mining by 59.2% in the 3rd quarter. Barclays PLC now owns 962,652 shares of the basic materials company’s stock worth $6,624,000 after purchasing an additional 358,097 shares during the period. Geode Capital Management LLC boosted its position in Coeur Mining by 1.0% during the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock worth $62,937,000 after purchasing an additional 89,863 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Coeur Mining during the third quarter worth approximately $119,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Roth Mkm reduced their target price on Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research note on Friday, February 21st. TD Securities began coverage on shares of Coeur Mining in a research report on Tuesday, March 11th. They set a “buy” rating and a $7.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and set a $8.50 price objective on shares of Coeur Mining in a report on Wednesday, April 2nd. National Bank Financial raised shares of Coeur Mining to a “strong-buy” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets assumed coverage on shares of Coeur Mining in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of “Buy” and a consensus price target of $8.10.

Coeur Mining Stock Performance

NYSE:CDE opened at $5.92 on Friday. Coeur Mining, Inc. has a twelve month low of $4.03 and a twelve month high of $7.72. The company has a market cap of $3.78 billion, a P/E ratio of 49.32 and a beta of 1.35. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $5.92 and its 200-day moving average price is $6.27.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. The business had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other news, CFO Thomas S. Whelan bought 10,000 shares of Coeur Mining stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $5.25 per share, with a total value of $52,500.00. Following the completion of the purchase, the chief financial officer now directly owns 668,450 shares of the company’s stock, valued at approximately $3,509,362.50. This trade represents a 1.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.56% of the stock is owned by company insiders.

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.