Saudi Central Bank Grows Position in Coeur Mining, Inc. $CDE

Saudi Central Bank lifted its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 89.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,417 shares of the basic materials company’s stock after purchasing an additional 34,221 shares during the quarter. Saudi Central Bank’s holdings in Coeur Mining were worth $1,182,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Coeur Mining by 105.0% during the second quarter. Versant Capital Management Inc now owns 1,601 shares of the basic materials company’s stock valued at $26,000 after buying an additional 820 shares during the period. Ancora Advisors LLC acquired a new position in shares of Coeur Mining in the second quarter worth about $26,000. Triumph Capital Management boosted its stake in shares of Coeur Mining by 300.0% during the 4th quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 1,435 shares in the last quarter. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of Coeur Mining during the 4th quarter worth about $32,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coeur Mining news, EVP Casey M. Nault sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the executive vice president directly owned 540,086 shares of the company’s stock, valued at $10,801,720. This trade represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas S. Whelan sold 6,000 shares of Coeur Mining stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,000 shares of company stock valued at $844,470. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

CDE has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Zacks Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Scotiabank dropped their price objective on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Roth Capital set a $19.00 price objective on Coeur Mining in a research report on Friday, August 7th. One equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Coeur Mining Stock Performance

CDE opened at $20.70 on Wednesday. Coeur Mining, Inc. has a twelve month low of $13.55 and a twelve month high of $27.77. The firm has a market capitalization of $21.28 billion, a PE ratio of 17.70 and a beta of 1.39. The company has a current ratio of 3.65, a quick ratio of 2.44 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $17.80 and its 200 day moving average price is $18.77.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.14). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The company’s revenue for the quarter was up 125.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. As a group, sell-side analysts expect that Coeur Mining, Inc. will post 0.86 EPS for the current fiscal year.

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.