Legal & General Group Plc Reduces Stock Position in Coeur Mining, Inc. $CDE

Legal & General Group Plc lowered its stake in Coeur Mining, Inc. (NYSE:CDE) by 56.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 673,448 shares of the basic materials company’s stock after selling 857,583 shares during the quarter. Legal & General Group Plc’s holdings in Coeur Mining were worth $12,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in Coeur Mining by 20.9% in the fourth quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 517 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Coeur Mining by 2.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company’s stock worth $608,000 after purchasing an additional 935 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 996 shares during the last quarter. Savant Capital LLC boosted its holdings in Coeur Mining by 2.3% in the third quarter. Savant Capital LLC now owns 46,551 shares of the basic materials company’s stock worth $873,000 after purchasing an additional 1,066 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Coeur Mining by 12.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,650 shares of the basic materials company’s stock worth $190,000 after purchasing an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDE. Royal Bank Of Canada raised their target price on shares of Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research note on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price target on the stock. Cantor Fitzgerald cut shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 27th. Two 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.56.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 77,204 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Coeur Mining Trading Down 5.4%

Shares of Coeur Mining stock opened at $18.16 on Thursday. The company’s fifty day simple moving average is $18.66 and its 200-day simple moving average is $19.60. The stock has a market capitalization of $18.79 billion, a PE ratio of 15.66 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 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 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). The business had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The company’s revenue was up 137.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, equities analysts anticipate that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.02 per share. This represents a dividend yield of 23.0%. The ex-dividend date is Friday, May 22nd. Coeur Mining’s dividend payout ratio (DPR) is presently 3.45%.

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.