Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Buying Coeur Mining Inc (CDE)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Highbridge Capital Management, managed by Glenn Russell Dubin, established the biggest position in Coeur Mining Inc (NYSE:CDE). According to its latest 13F filing, the fund had $1.6 million invested in the company at the end of the quarter. Peter Franklin Palmedo’s Sun Valley Gold also initiated a $0.6 million position during the quarter. The following funds were also among the new CDE investors: Paul Tudor Jones’s Tudor Investment Corp, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Coeur Mining Inc (NYSE:CDE). We will take a look at Blue Nile Inc (NASDAQ:NILE), Easterly Government Properties Inc (NYSE:DEA), Middlesex Water Company (NASDAQ:MSEX), and Bellicum Pharmaceuticals Inc (NASDAQ:BLCM). This group of stocks’ market values are similar to CDE’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NILE 15 68233 4
DEA 7 20804 -1
MSEX 7 11020 1
BLCM 15 117063 0

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was just $32 million in CDE’s case. Blue Nile Inc (NASDAQ:NILE) and Bellicum Pharmaceuticals Inc (NASDAQ:BLCM) lead the pack, while Easterly Government Properties Inc (NYSE:DEA) and Easterly Government Properties Inc (NYSE:DEA) are at the other end of the specter with only 7 bullish hedge fund positions each. Compared to these stocks Coeur Mining Inc (NYSE:CDE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...