Panagora Asset Management Inc. Has $33.69 Million Stock Position in Coeur Mining, Inc. $CDE

Panagora Asset Management Inc. increased its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 28.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,889,272 shares of the basic materials company’s stock after buying an additional 415,290 shares during the period. Panagora Asset Management Inc.’s holdings in Coeur Mining were worth $33,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MML Investors Services LLC lifted its position in Coeur Mining by 133.9% during the 4th quarter. MML Investors Services LLC now owns 89,947 shares of the basic materials company’s stock worth $1,604,000 after buying an additional 51,490 shares in the last quarter. MYDA Advisors LLC acquired a new position in Coeur Mining during the 4th quarter worth about $535,000. Mariner LLC lifted its position in Coeur Mining by 6.4% during the 4th quarter. Mariner LLC now owns 118,197 shares of the basic materials company’s stock worth $2,108,000 after buying an additional 7,084 shares in the last quarter. NFJ Investment Group LLC lifted its position in Coeur Mining by 14.2% during the 4th quarter. NFJ Investment Group LLC now owns 172,068 shares of the basic materials company’s stock worth $3,068,000 after buying an additional 21,433 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Coeur Mining during the 4th quarter worth about $2,044,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Stock Performance

Coeur Mining stock opened at $18.64 on Tuesday. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. Coeur Mining, Inc. has a 1 year low of $8.46 and a 1 year high of $27.77. The company has a market cap of $19.28 billion, a PE ratio of 16.07 and a beta of 1.25. The company’s 50-day moving average is $18.51 and its two-hundred day moving average is $19.74.

Coeur Mining (NYSE:CDE) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The business had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 137.8% on a year-over-year basis. Equities analysts anticipate that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDE. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 29th. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 target price on the stock. Zacks Research upgraded shares of Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus price target of $26.28.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total value 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 $1,435,994.40. This represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Coeur Mining Company 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.