Arrowstreet Capital Limited Partnership Purchases 13,418,041 Shares of Coeur Mining, Inc. $CDE

Arrowstreet Capital Limited Partnership boosted its position in Coeur Mining, Inc. (NYSE:CDE) by 92.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 27,981,273 shares of the basic materials company’s stock after purchasing an additional 13,418,041 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Coeur Mining were worth $524,669,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDE. SG Americas Securities LLC lifted its holdings in Coeur Mining by 145.6% in the 4th quarter. SG Americas Securities LLC now owns 186,664 shares of the basic materials company’s stock worth $3,328,000 after purchasing an additional 110,660 shares during the last quarter. Rathbones Group PLC lifted its position in Coeur Mining by 146.0% during the 4th quarter. Rathbones Group PLC now owns 173,349 shares of the basic materials company’s stock worth $3,091,000 after acquiring an additional 102,869 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock valued at $222,922,000 after acquiring an additional 6,012,718 shares during the period. Electrum Group LLC acquired a new stake in shares of Coeur Mining in the fourth quarter valued at about $8,582,000. Finally, Norges Bank acquired a new position in shares of Coeur Mining during the 4th quarter worth about $128,389,000. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

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

Coeur Mining Stock Down 3.9%

NYSE CDE opened at $15.22 on Friday. The stock’s 50 day simple moving average is $16.85 and its 200 day simple moving average is $19.53. 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 $15.75 billion, a PE ratio of 13.13 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 the consensus estimate of $0.37 by ($0.01). The business had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company’s revenue for the quarter was up 137.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDE. Canaccord Genuity Group raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 29th. Scotiabank reaffirmed an “outperform” rating and set a $28.50 price objective on shares of Coeur Mining in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Zacks Research cut Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, 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.