Allspring Global Investments Holdings LLC Grows Position in Coeur Mining, Inc. $CDE

Allspring Global Investments Holdings LLC grew its holdings in Coeur Mining, Inc. (NYSE:CDE) by 81.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,681,172 shares of the basic materials company’s stock after acquiring an additional 1,653,323 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coeur Mining were worth $69,896,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management increased its stake in Coeur Mining by 300.0% in the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,200 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Coeur Mining by 74.2% in the second 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 during the last quarter. Kingdom Financial Group LLC. acquired a new position in Coeur Mining in the fourth quarter valued at $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Coeur Mining during the fourth quarter worth about $33,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Coeur Mining during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

NYSE CDE opened at $14.36 on Friday. The business has a 50 day moving average price of $17.22 and a 200 day moving average price of $19.59. The company has a market capitalization of $14.85 billion, a P/E ratio of 12.38 and a beta of 1.29. Coeur Mining, Inc. has a 1-year low of $8.56 and a 1-year high of $27.77. 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 posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share 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 analyst estimates of $815.59 million. During the same period last year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 137.8% on a year-over-year basis. Sell-side analysts expect that Coeur Mining, Inc. will post 1.38 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

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

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’s 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 trade represents a 33.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CDE shares. BMO Capital Markets assumed coverage on Coeur Mining in a research note on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price objective for the company. Zacks Research cut shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note 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 target price for the company in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a report on Thursday, May 7th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.