Swiss National Bank Buys 1,855,401 Shares of Coeur Mining, Inc. $CDE

Swiss National Bank increased its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 146.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,122,706 shares of the basic materials company’s stock after purchasing an additional 1,855,401 shares during the quarter. Swiss National Bank owned approximately 0.49% of Coeur Mining worth $58,613,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP raised 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 in the last quarter. Grand Central Investment Group boosted its holdings in shares of Coeur Mining by 1.5% in the 1st quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company’s stock valued at $760,000 after buying an additional 612 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Coeur Mining by 7.5% in the 1st quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company’s stock worth $222,000 after buying an additional 820 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Coeur Mining by 2.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company’s stock worth $608,000 after buying an additional 935 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Coeur Mining by 99.2% during the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 996 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CDE. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, March 24th. Roth Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 29th. Scotiabank restated an “outperform” rating and set a $28.50 target price on shares of Coeur Mining in a research note on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.39.

Coeur Mining Trading Up 8.0%

NYSE CDE opened at $15.29 on Wednesday. The company has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $19.56. The stock has a market cap of $15.82 billion, a P/E ratio of 13.18 and a beta of 1.29. Coeur Mining, Inc. has a 12-month low of $8.56 and a 12-month high of $27.77. 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 (NYSE:CDE) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share 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 company had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. During the same period last year, the firm earned $0.11 earnings per share. Coeur Mining’s quarterly revenue was up 137.8% compared to the same quarter last year. On average, analysts forecast that Coeur Mining, Inc. will post 1.25 earnings per share for the current year.

Coeur Mining Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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 transaction, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

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.