CenterBook Partners LP Takes $970,000 Position in Coeur Mining, Inc. $CDE

CenterBook Partners LP purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,407 shares of the basic materials company’s stock, valued at approximately $970,000.

A number of other hedge funds also recently added to or reduced their stakes in CDE. Van ECK Associates Corp boosted its stake in Coeur Mining by 55.8% during the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock valued at $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. Geode Capital Management LLC lifted its holdings in shares of Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock valued at $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Coeur Mining by 38.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock valued at $268,329,000 after purchasing an additional 3,982,085 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Canaccord Genuity Group upgraded 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 note on Wednesday, April 29th. BMO Capital Markets assumed coverage on shares of Coeur Mining in a report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price target on the stock. ATB Cormark Capital Markets raised shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Coeur Mining currently has a consensus rating of “Moderate Buy” and an average target price of $24.56.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Coeur Mining Trading Down 4.1%

Shares of CDE stock opened at $15.44 on Thursday. 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 company has a market cap of $15.97 billion, a price-to-earnings ratio of 13.31 and a beta of 1.25. Coeur Mining, Inc. has a 1 year low of $8.46 and a 1 year high of $27.77. The firm has a fifty day moving average price of $18.60 and a 200-day moving average price of $19.68.

Coeur Mining (NYSE:CDE) last released 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 company had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. During the same quarter last year, the firm posted $0.11 earnings per share. Coeur Mining’s revenue for the quarter was up 137.8% on a year-over-year basis. As a group, equities analysts predict that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, May 22nd. Coeur Mining’s payout ratio is presently 3.45%.

About Coeur Mining

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.