Coeur d’Alene Mines Corporation (NYSE:CDE) was in 13 hedge funds’ portfolio at the end of December. CDE has seen a decrease in enthusiasm from smart money recently. There were 18 hedge funds in our database with CDE positions at the end of the previous quarter.
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With all of this in mind, we’re going to take a look at the latest action encompassing Coeur d’Alene Mines Corporation (NYSE:CDE).
What does the smart money think about Coeur d’Alene Mines Corporation (NYSE:CDE)?
In preparation for this year, a total of 13 of the hedge funds we track held long positions in this stock, a change of -28% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes significantly.
According to our comprehensive database, Sun Valley Gold, managed by Peter Franklin Palmedo, holds the largest position in Coeur d’Alene Mines Corporation (NYSE:CDE). Sun Valley Gold has a $31 million position in the stock, comprising 1.7% of its 13F portfolio. Sitting at the No. 2 spot is Dreman Value Management, managed by David Dreman, which held a $31 million position; 0.2% of its 13F portfolio is allocated to the company. Other hedge funds that hold long positions include Eric Sprott’s Sprott Asset Management, Clint Carlson’s Carlson Capital and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
Judging by the fact that Coeur d’Alene Mines Corporation (NYSE:CDE) has faced bearish sentiment from the smart money, logic holds that there was a specific group of fund managers who were dropping their entire stakes heading into 2013. Interestingly, Thomas E. Claugus’s GMT Capital sold off the biggest stake of all the hedgies we track, comprising about $21 million in stock.. Donald Chiboucis’s fund, Columbus Circle Investors, also sold off its stock, about $20 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 5 funds heading into 2013.
How are insiders trading Coeur d’Alene Mines Corporation (NYSE:CDE)?
Insider purchases made by high-level executives is at its handiest when the company in focus has seen transactions within the past six months. Over the last 180-day time period, Coeur d’Alene Mines Corporation (NYSE:CDE) has seen 1 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Coeur d’Alene Mines Corporation (NYSE:CDE). These stocks are Silvercorp Metals Inc. (USA) (NYSE:SVM), Silver Standard Resources Inc. (USA) (NASDAQ:SSRI), Hecla Mining Company (NYSE:HL), Pan American Silver Corp. (USA) (NASDAQ:PAAS), and First Majestic Silver Corp (NYSE:AG). This group of stocks belong to the silver industry and their market caps match CDE’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Silvercorp Metals Inc. (USA) (NYSE:SVM) | 5 | 0 | 0 |
| Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) | 7 | 0 | 0 |
| Hecla Mining Company (NYSE:HL) | 6 | 0 | 0 |
| Pan American Silver Corp. (USA) (NASDAQ:PAAS) | 15 | 0 | 0 |
| First Majestic Silver Corp (NYSE:AG) | 5 | 0 | 0 |
With the results exhibited by the aforementioned studies, retail investors should always monitor hedge fund and insider trading sentiment, and Coeur d’Alene Mines Corporation (NYSE:CDE) applies perfectly to this mantra.
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