The Closing Print live trading and financial blog during market hours.


These MarketSmith candidates are from last night’s Blue Dot Scan. All are near breakout pivots with RS line at new highs.

Coeur Mining (CDE) is especially interesting, as the company will be hosting its 2020 Investor Day virtually on Thursday, December 17, 2020 at 8:30 a.m. Central Time (9:30 a.m. Eastern Time). Coeur’s executive team plans to discuss topics including the Company’s strategy, performance, operations and outlook. Registration for the event is available through the following link: Investor Day

At third quarter’s end, a total of 15 of the hedge funds were long Coeur Mining stock, a change of (+7%) from the previous quarter.

MarketSmith – Coeur Mining

Coeur Mining (CDE) is breaking out of a 10 week consolidation and flat base on its daily chart accompanied by above average volume. Earnings are projected to increase (+163%) next year,

The largest stake in Coeur Mining, Inc. (NYSE:CDE) was held by Sprott Asset Management, which reported holding $17.6 million worth of stock at the end of September. It was followed by Portolan Capital Management with a $7.2 million position. Other investors bullish on the company included Lansdowne Partners, D E Shaw, and Citadel Investment Group. In terms of the portfolio weights assigned to each position Portolan Capital Management allocated the biggest weight to Coeur Mining, Inc. (NYSE:CDE), around 0.82% of its 13F portfolio. Sprott Asset Management is also relatively very bullish on the stock, setting aside 0.72 percent of its 13F equity portfolio to CDE.

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Lansdowne Partners, managed by Suzi Nutton (CEO), assembled the most valuable position in Coeur Mining, Inc. (NYSE:CDE). Lansdowne Partners had $6.5 million invested in the company at the end of the quarter. Greg Eisner’s Engineers Gate Manager also made a $1.6 million investment in the stock during the quarter. The other funds with brand new CDE positions are Minhua Zhang’s Weld Capital Management and Karim Abbadi and Edward McBride’s Centiva Capital.

We’ll watch for continuation today after management finishes its Investor Day presentation.

Futures are higher.

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