There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 21, Coeur Mining, Inc.'s Chairman (non-executive), Robert E. Mellor, invested $9,188.00 into 1,000 shares of CDE, for a cost per share of $9.19. Bargain hunters tend to pay particular attention to insider buys like this one, because 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.

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In trading on Thursday, bargain hunters could buy shares of Coeur Mining, Inc. ( CDE - Get Report) and achieve a cost basis 13.6% cheaper than Mellor, with shares changing hands as low as $7.94 per share. Coeur Mining, Inc. shares are currently trading down about 0.6% on the day. The chart below shows the one year performance of CDE shares, versus its 200 day moving average:

Coeur Mining, Inc. Chart

Looking at the chart above, CDE's low point in its 52 week range is $4.67 per share, with $16.41 as the 52 week high point — that compares with a last trade of $8.04. By comparison, below is a table showing the prices at which CDE insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
10/31/2016 Robert E. Mellor Chairman (non-executive) 1,000 $11.11 $11,113.00
02/21/2017 Robert E. Mellor Chairman (non-executive) 1,000 $9.19 $9,188.00

According to the ETF Finder at ETF Channel, CDE makes up 6.89% of the Silver Miners ETF ( SIL) which is trading lower by about 0.3% on the day Thursday.