Convergence Investment Partners LLC Invests $1.21 Million in Coeur Mining, Inc. $CDE

Convergence Investment Partners LLC acquired a new position in Coeur Mining, Inc. (NYSE:CDE) in the 4th quarter, HoldingsChannel reports. The firm acquired 68,100 shares of the basic materials company’s stock, valued at approximately $1,214,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Coeur Mining by 55.8% in 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 purchasing an additional 23,646,265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Coeur Mining by 36.3% in 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 purchasing an additional 6,352,828 shares during the last quarter. Tidal Investments LLC raised 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 purchasing an additional 7,382,955 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Coeur Mining by 38.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock worth $268,329,000 after purchasing an additional 3,982,085 shares during the last quarter. Finally, Sprott Inc. raised its stake in shares of Coeur Mining by 2.0% in the third quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company’s stock worth $172,743,000 after purchasing an additional 176,388 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Stock Performance

NYSE:CDE opened at $17.60 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14. The business has a fifty day simple moving average of $19.35 and a two-hundred day simple moving average of $19.37. Coeur Mining, Inc. has a 1 year low of $7.15 and a 1 year high of $27.77. The company has a market capitalization of $18.21 billion, a P/E ratio of 15.17 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last released its earnings results 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 return on equity of 15.38% and a net margin of 31.15%.The firm had revenue of $856.19 million during the quarter, compared to analysts’ expectations of $815.59 million. During the same period in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 137.8% compared to the same quarter last year. On average, analysts expect that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th will be given a $0.02 dividend. This represents a yield of 20.0%. The ex-dividend date of this dividend is Friday, May 22nd.

Wall Street Analyst Weigh In

Several analysts have recently commented on CDE shares. Canaccord Genuity Group raised 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. ATB Cormark Capital Markets raised Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, March 24th. Canadian Imperial Bank of Commerce started coverage on Coeur Mining in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price objective for the company. Royal Bank Of Canada increased their price objective on Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.56.

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.