Renaissance Technologies LLC Buys 6,176,524 Shares of Coeur Mining, Inc. $CDE

Renaissance Technologies LLC grew its position in Coeur Mining, Inc. (NYSE:CDE) by 889.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,870,813 shares of the basic materials company’s stock after purchasing an additional 6,176,524 shares during the quarter. Renaissance Technologies LLC’s holdings in Coeur Mining were worth $128,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CDE. Gabelli Funds LLC bought a new stake in shares of Coeur Mining during the 1st quarter worth $515,000. Hilltop Holdings Inc. acquired a new stake in shares of Coeur Mining during the first quarter valued at about $349,000. Public Employees Retirement System of Ohio increased its position in Coeur Mining by 32.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the basic materials company’s stock valued at $73,000 after acquiring an additional 957 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock valued at $524,669,000 after purchasing an additional 13,418,041 shares during the period. Finally, Capula Management Ltd raised its position in Coeur Mining by 23.8% during the 1st quarter. Capula Management Ltd now owns 213,088 shares of the basic materials company’s stock worth $4,000,000 after purchasing an additional 40,981 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Stock Down 0.6%

Coeur Mining stock opened at $15.14 on Friday. Coeur Mining, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $27.77. The stock has a market cap of $15.67 billion, a PE ratio of 13.06 and a beta of 1.29. The firm’s 50-day simple moving average is $16.80 and its 200 day simple moving average is $19.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The firm had revenue of $856.19 million during the quarter, compared to analysts’ expectations of $815.59 million. During the same quarter last year, the business posted $0.11 EPS. The company’s quarterly revenue was up 137.8% on a year-over-year basis. Research analysts predict that Coeur Mining, Inc. will post 1.25 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a research report on Friday, May 8th. Scotiabank reiterated an “outperform” rating and set a $28.50 target price on shares of Coeur Mining in a research report on Tuesday, July 14th. Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.39.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This represents a 33.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

Coeur Mining Company 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.