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| Top Buys by Top Brass: CFO Whelan's $100K Bet on CDEBy Metals Channel Staff, Thursday, October 28, 10:03 AM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $100K by Thomas S. Whelan, CFO at Coeur Mining Inc (NYSE:CDE). Whelan bets big on CDE:
Whelan's average cost works out to $6.90/share. In trading on Thursday, bargain hunters could buy shares of Coeur Mining Inc (NYSE:CDE) and achieve a cost basis lower than Whelan, with shares changing hands as low as $5.93 per share. Shares of Coeur Mining Inc were changing hands at $6.18 at last check, trading off about 8.6% on Thursday. The chart below shows the one year performance of CDE shares, versus its 200 day moving average:
Looking at the chart above, CDE's low point in its 52 week range is $5.86 per share, with $12.58 as the 52 week high point — that compares with a last trade of $6.18. Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
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