Raymond James Financial Inc. Buys Shares of 653,451 Coeur Mining, Inc. (NYSE:CDE)

Raymond James Financial Inc. purchased a new position in Coeur Mining, Inc. (NYSE:CDE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 653,451 shares of the basic materials company’s stock, valued at approximately $3,738,000. Raymond James Financial Inc. owned about 0.16% of Coeur Mining at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in Coeur Mining by 88.3% in the third quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock valued at $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 3rd quarter worth about $1,311,000. BNP Paribas Financial Markets increased its position in shares of Coeur Mining by 180.7% during the 3rd 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 last quarter. US Bancorp DE raised 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 valued at $503,000 after buying an additional 75,314 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Coeur Mining in the 3rd quarter worth approximately $642,000. Institutional investors own 63.01% of the company’s stock.

Insider Activity

In related news, CFO Thomas S. Whelan bought 10,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was purchased 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 owns 668,450 shares of the company’s stock, valued at $3,509,362.50. This trade represents a 1.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.56% of the company’s stock.

Coeur Mining Price Performance

Shares of NYSE:CDE opened at $6.14 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.92 billion, a PE ratio of 51.13 and a beta of 1.51. The firm’s 50 day moving average price is $6.17 and its 200-day moving average price is $6.38. Coeur Mining, Inc. has a twelve month low of $3.40 and a twelve month high of $7.72.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.32 million. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. Equities research analysts expect that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDE shares. TD Securities started coverage on shares of Coeur Mining in a report on Tuesday, March 11th. They set a “buy” rating and a $7.00 target price on the stock. Roth Mkm reduced their price objective on Coeur Mining from $8.50 to $8.25 and set a “buy” rating on the stock in a research note on Friday, February 21st. National Bank Financial upgraded Coeur Mining to a “strong-buy” rating in a report on Friday, March 21st. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Cormark raised Coeur Mining to a “moderate buy” rating in a research note on Thursday, February 20th. One investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $8.05.

Coeur Mining Company 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.