Bank of Nova Scotia Buys New Shares in Coeur Mining, Inc. $CDE

Bank of Nova Scotia purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,668 shares of the basic materials company’s stock, valued at approximately $1,101,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDE. Triumph Capital Management grew its position in Coeur Mining by 300.0% during the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock worth $29,000 after buying an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Coeur Mining by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 1,435 shares in the last quarter. Kingdom Financial Group LLC. bought a new stake in shares of Coeur Mining in the 4th quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Coeur Mining in the 4th quarter worth approximately $33,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Coeur Mining during the 4th quarter worth approximately $34,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Price Performance

Shares of CDE stock opened at $14.59 on Thursday. The stock’s fifty day simple moving average is $16.66 and its 200 day simple moving average is $19.40. Coeur Mining, Inc. has a one year low of $8.56 and a one year high of $27.77. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 12.58 and a beta of 1.29. 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 issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company had revenue of $856.19 million for the quarter, compared to the consensus estimate of $815.59 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue was up 137.8% compared to the same quarter last year. On average, analysts expect that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

The business 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 dividend payout ratio is presently 3.45%.

Insider Activity at Coeur Mining

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CDE shares. Scotiabank restated an “outperform” rating and set a $28.50 price objective on shares of Coeur Mining in a research report on Tuesday, July 14th. Zacks Research downgraded shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.39.

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.