OP Asset Management Ltd Buys New Position in Coeur Mining, Inc. $CDE

OP Asset Management Ltd bought a new stake in Coeur Mining, Inc. (NYSE:CDE) during the first quarter, Holdings Channel.com reports. The fund bought 103,418 shares of the basic materials company’s stock, valued at approximately $1,941,000.

Several other institutional investors also recently added to or reduced their stakes in CDE. Van ECK Associates Corp lifted its holdings in shares of Coeur Mining by 55.8% during the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock worth $1,238,201,000 after buying an additional 23,646,265 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after acquiring an additional 7,382,955 shares during the last quarter. Norges Bank acquired a new stake in shares of Coeur Mining in the fourth quarter worth $128,389,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock worth $447,567,000 after acquiring an additional 6,352,828 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock worth $222,922,000 after acquiring an additional 6,012,718 shares during the period. 63.01% of the stock is owned by institutional investors.

Coeur Mining Stock Up 0.1%

Shares of CDE stock opened at $16.04 on Monday. The stock has a market cap of $16.59 billion, a P/E ratio of 13.83 and a beta of 1.25. Coeur Mining, Inc. has a one year low of $8.46 and a one year high of $27.77. The stock has a fifty day moving average price of $18.01 and a 200 day moving average price of $19.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. Analysts predict that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.02 per share. This represents a dividend yield of 23.0%. The ex-dividend date was Friday, May 22nd. Coeur Mining’s payout ratio is 3.45%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDE. BMO Capital Markets began coverage on shares of Coeur Mining in a report on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price target for the company. Cantor Fitzgerald lowered shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Mkm reissued a “buy” rating and set a $25.00 target price on shares of Coeur Mining in a research report on Friday, May 8th. Finally, Zacks Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.28.

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the sale, the chief accounting officer owned 77,204 shares of the company’s stock, valued at $1,435,994.40. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Coeur Mining Profile

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.